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Major digital assets traded mostly lower on Monday, Dec. 29, as markets remained subdued during the holiday period and investor activity stayed light ahead of year-end.
Bitcoin (BTC) slipped 0.4% over the last day to $87,387, after briefly reaching above $90,000, while Ethereum (ETH) fell 0.5% to $2,930. Other large-cap tokens also declined. BNB dropped just over 1% to $852, XRP fell 0.5% to $1.86, and Solana (SOL) declined 1% to $123.
The total cryptocurrency market cap stands at approximately $3.04 trillion, down 0.4% over the past 24 hours. Total cryptocurrency trading volume over the past day is at $123.7 billion with Bitcoin dominance at 57.3% and Ethereum dominance at 11.6%.
The day’s biggest gainers were Midnight (NIGHT) — a privacy-focused Layer 2 developed by the firm behind Cardano — which rose 13% to $0.098, followed by Hyperliquid (HYPE), up 3% to $26.
The biggest losers included Uniswap (UNI), which fell 5.6% to $6.02 just days after its DAO passed UNIfication, MemeCore (M), down 5.1% to $1.45, and pumpfun (PUMP), which declined 4.7% to $0.0017.
Liquidations and Fund Flows
Over the past 24 hours, crypto markets saw $300.86 million in liquidations, with $162.49 million coming from long positions and $138.37 million from short positions. In total, 98,523 traders were liquidated during the period, per Coinglass data.
Bitcoin and Ethereum accounted for the largest share of liquidations over the past 24 hours, with BTC recording $102.37 million liquidations and ETH following with $76.98 million. Among altcoins, SOL recorded $19.81 million in liquidations, while other assets collectively made up around $25.35 million
In the crypto ETF market, Bitcoin spot ETFs recorded another $275.88 million in net outflows on Friday, Dec. 26, marking six consecutive days of net outflows. Ethereum spot ETFs experienced $38.7 million in net outflows, according to SoSoValue data.
In total, digital asset investment products, including exchange-traded products and other funds, recorded $446 million in outflows last week, according to CoinShares’ weekly Fund Flows report, bringing total outflows since the Oct. 10 crash to $3.2 billion. The report suggests that investor sentiment remains fragile, even though year-to-date (YTD) inflows stand at $46.3 billion.
Most of the outflows came from the U.S., which saw $460 million withdrawn from crypto investment products. XRP and Solana funds continued to attract inflows, adding $70.2 million and $7.5 million, while Bitcoin and Ethereum funds recorded outflows of $443 million and $59.5 million, respectively.
Macro Developments
In other news, geopolitical uncertainty increased after Russian President Vladimir Putin told U.S. President Donald Trump that Russia may rethink its position on peace talks following what Moscow claimed was a Ukrainian drone attack on one of President Putin’s residences.
Ukraine denied the claim, Reuters reported earlier today, with President Volodymyr Zelenskyy calling it false and accusing Russia of using it as an excuse to delay peace efforts.
The exchange has seemingly added to uncertainty around the war, keeping broader market sentiment cautious. This comes as both gold and silver fell sharply on the day. Gold dropped 4.5% to around $4,330 per ounce, while silver fell 8.8% to roughly $72.27 per ounce.