Historical Trend Reference
In recent years, significant corrections in Bitcoin have indeed occurred multiple times before Christmas:
2021: One week before Christmas, Bitcoin dropped from $51,000 to $46,000, a decrease of nearly 10%.
2022: Similarly, one week before Christmas, Bitcoin fell from $18,300 to $16,800.
2024: Currently, one week before Christmas, Bitcoin has dropped from $108,353 to $92,232, a decrease of nearly 9%.
However, there were also years, such as 2020, when Bitcoin steadily rose before the holiday and surged quickly afterwards, but historical patterns still warrant caution.
Meanwhile, the current market sentiment is extremely poor, and year-end capital pressure along with macroeconomic uncertainties may still trigger short-term volatility.
The key support level for Bitcoin is around $92,000 to $94,000; if it breaks below this range, it could trigger more selling pressure, and with insufficient liquidity, it's uncertain whether the market can bear this. Currently, only if it stays above $97,400 for four hours can there be a chance for a reversal.
Altcoins are heavily influenced by Bitcoin's movements, with higher risks of correction.
Response Strategy
1. Rationally reduce positions: If holding high-position profits, consider appropriately reducing positions to lock in profits.
2. Set stop losses: Invest cautiously to avoid significant losses due to sudden drops.
3. Patiently wait: Even in the case of a major drop, the market often welcomes recovery opportunities after the holiday, so don’t easily chase gains or panic sell. $BTC