Crypto Community Disappointed By Lack of Santa Rally Despite Holiday Cheer

• Crypto traders had expected a Santa rally on Christmas, only to be disappointed by the steady markets.
• Community members expressed their disappointment by sharing memes and poetry.
• The lack of a rally was attributed to the controversies surrounding centralized exchanges like FTX and Binance.

The crypto community was feeling the festive holiday spirit this Christmas, expecting a Santa rally in the markets. Unfortunately, their hopes were dashed as Bitcoin’s volatility index hit record lows, and the top crypto hovered around $16,800 on the holiday.

Traders took to social media to express their disappointment, sharing memes and even poetry to express their sentiments. One community member shared an image from data tracker Coinstats showing positive market movements and floating the idea of a potential “Santa Claus rally.”

However, the lack of a rally was attributed to the controversies that surrounded centralized exchanges like FTX and Binance this year. Analytics tool CMM shared a poem inspired by the FTX collapse involving the firm’s former CEO, Sam Bankman-Fried. “Roses are red. Your PNL is too. Santa isn’t coming tonight. SBF liquidated him too,” it read.

Other Twitter users expressed frustration by sharing memes. “Thanks for the Christmas gifts Santa. Or should I say Sam Bankman-Fried?” read one.

Overall, the crypto community did not experience a Santa rally this Christmas, showing that some controversies can be just as powerful as Christmas cheer. Despite this, many remain hopeful for the new year, as the markets continue to show positive movements.

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