Bitcoin rebounded from $92,268 to $99,500 on Saturday but then began another round of volatile decline, currently reporting a low of $94,300, down 3.19% in the last 24 hours; Ethereum also fell below $3,300, down 2.39% in the last 24 hours.
In the last 24 hours, $270 million has been liquidated.
In the context of a volatile decline, according to Coinglass data, over the past 24 hours, the total liquidation amount in the cryptocurrency market reached $270 million, with long positions liquidated at $204 million and short positions at $71 million, affecting over 106,000 individuals.
The European and American markets may be relatively quiet this week.
One of the biggest reasons for this decline is related to the US Federal Reserve's suggestion last week that it will slow down interest rate cuts in 2025, reducing them by two basis points instead of the previously expected four.
Greeks.live analyst Adam analyzed earlier:
This round of the bull market has not seen significant corrections yet. With the Christmas holiday approaching, funds are tight, and a deleveraging event before Trump takes office cannot be ruled out, leading to strong risk-averse sentiment in the market.
Historically, Bitcoin has a low probability of significant volatility during Christmas. Analyzing the past ten years, Bitcoin's performance in December shows a 50% chance of closing higher, with the smallest increase occurring in 2015 at 13.83%, and the largest increase reaching 46.92%. Among the five closing declines, the largest drop was 18.9% in 2021, while the smallest was 3.59% in 2022.
Currently, BTC's return rate for this month is -2.5%. We will soon know if it can turn positive.
