Bitcoin (BTC) hit all-time highs of $28,400 earlier crashing thousands of dollars on Dec. 27 — the latest chapter in its Christmas trading frenzy.

Cryptocurrency market place overview. Source: Coin360

BTC cost dips $1,900 in minutes

Data from Cointelegraph Markets, Coin360 and TradingView showed BTC/USD proceeds and and then lose huge amounts in USD terms during trading on Sunday.

Later topping 15% 24-hr gains, Bitcoin encountered heavy selling pressure in a higher place $28,000. Unable to sustain its extremely rapid upwards trajectory, the largest cryptocurrency then roughshod to lows of $26,500.

At press time, volatility ensured that no firm market direction was in control as BTC/USD fluctuated around $27,000.

BTC/USD ane-minute candle nautical chart (Bitstamp). Source: TradingView

Analyst: "Bull run of bull runs has started"

As Cointelegraph reported before in the twenty-four hours, Bitcoin fix a number of records with its latest moves, including passing a $500 billion market place cap for the get-go time.

In improver, Monday should meet the largest gap in Bitcoin futures markets e'er created.

Since overcoming $24,000 resistance, Bitcoin has traded in uncharted territory with simply impromptu sell levels creating fiction in what looks to exist an increasingly parabolic market.

With institutional investors taking a break, talk turned to retail buyers fuelling the latest phase of the Bitcoin bull run.

"The bull cycle of bull cycles has started, as more and more than players are starting to adopt towards Bitcoin and cryptocurrencies," Cointelegraph Markets annotator Michaël van de Poppe summarized to Twitter followers.

Van de Poppe continued to centre $19,500 as a possible retracement zone, with altcoins in line to benefit from Bitcoin's example in one case its own gains wearisome — potentially next month.

Binance order book heatmap. Source: Material Indicators

Binance guild book data meanwhile shows that a formidable sell wall at $30,000 will likely be the next major hurdle for the BTC bulls.