The cryptocurrency market fell 1.4% in the past 24 hours, falling to $3.29 trillion. Over the past 10 days, the market has mostly stayed in the range of $3.3-3.4 trillion, falling back to the level at the end of November, when positions also experienced fluctuations. This is a classic 61.8% retracement level from the rebound in early November to the high point in mid-December.

The price of Bitcoin has fallen to $935,000, falling below the 50-day moving average after Christmas. Like other parts of the cryptocurrency market, Bitcoin has retraced to the 61.8% level. Bitcoin is on the edge of a technical pullback, falling below $93,000 will signal a breakthrough in the short-term trend, which may lead to a deeper decline, wiping out all gains from November to December.