Traders hoping for a rally over the Christmas days were disappointed as markets remained flat as many celebrated the holidays. Members of the crypto community expressed their disappointment by sharing memes, and some even turned their creativity into poetry.
On Dec. 23, data tracker Coinstats shared an image showing positive market moves and floating the idea of a potential “Christmas rally.”
Is that the beginning of the Santa Claus Rally? pic.twitter.com/zf1WDNaGpm
—CoinStats (@CoinStats) December 23, 2022
However, with Bitcoin’s volatility index hitting all-time lows on Dec. 25, any idea of a happy BTC Christmas rally is gone. Data from Cointelegraph Markets Pro showed that the cryptocurrency hovered around $16,800 over the holidays.
A member of the community he pointed that the lack of rebound this Christmas may be due to the controversies that have surrounded centralized exchanges such as FTX and Binance this year. Adding creativity to the matter, analytics tool CMM shared a poem inspired by the FTX collapse involving the firm’s former CEO, Sam Bankman-Fried.
Roses are red.
Your NLP is too.
Santa isn’t coming tonight.
SBF liquidated him too.—CMM (@CoinMarketMan) December 24, 2022
Meanwhile, another member of the community hinted that the lack of Christmas gifts could be because Santa Claus was also affected by the fall in the price of cryptocurrencies. On the other hand, some Twitter users expressed their frustration by sharing memes.
Thanks for the “Christmas pump” Santa. pic.twitter.com/B6Q4O96kgw
— Mr. Backwards (@Coin_Shark) December 26, 2022
One shared the crying cat meme with thumbs up while thanking Santa Claus for the “Christmas rebound” that didn’t happen. Other shared a photo of a psychologist supposedly treating a trader for believing in a Christmas rally.
While the cryptocurrency markets were at a standstill, the bad actors in the sector continued their work. In a recent attack, some $8 million in assets were compromised because hackers hijacked an APK from the BitKeep wallet. The team urged their community members to transfer their funds to wallets downloaded from official sources like the Apple App Store or Google Play.
In addition, another attack was carried out by hackers linked to the North Korean group Lazarus. It appears that the attackers launched an extensive phishing campaign targeting non-fungible token (NFT) users. The hackers launched some 500 phishing domains to lure their victims and steal their NFTs.
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