According to ChainCatcher news, Bitcoin is experiencing one of its weakest December performances in history, with a 2% drop over the past 30 days. Due to profit-taking and the Fed signaling fewer rate cuts next year, the traditional 'Christmas rally' expectation has been shattered.
FxPro's Alex Kuptsikevich stated that Bitcoin falling below $90,000 could mean new opportunities for market traders. "In a potential shock scenario, Bitcoin could suddenly drop below the $70,000 range."
However, a pullback to $90,000 in the coming weeks is more likely, which is attractive enough for buyers to prevent sell-offs," Kuptsikevich noted, as the market is digesting the Federal Reserve's hawkish stance, combined with the willingness to take profits after this year's strong rally, leading to current price pressure.
