According to Foresight News, Matrixport said that Bitcoin's strong momentum is expected to continue until December, driven by rising prices and increased media attention, attracting new investors. Optimism also surrounds Trump's inauguration on January 20, 2025, which may bring a more favorable regulatory environment for cryptocurrencies, including the appointment of a new SEC chairman. In addition, expectations that FTX will soon announce the return of $16.5 billion to creditors may also support market sentiment. These factors create a favorable backdrop for continued bullish sentiment and Bitcoin price stability.
Historically, when Bitcoin's relative strength index (RS) reaches overbought levels, or the 30-day rolling return exceeds +40%, its price tends to consolidate as momentum cools. While (Matrix on Target) does not take a pessimistic stance, a short consolidation phase may occur given the recent overbought conditions. However, many positive factors are gradually emerging.
