As Christmas approaches, the entire cryptocurrency market seems to be immersed in a festive atmosphere.
The institutional holidays over the weekend have significantly reduced market liquidity.
The day after tomorrow, the West will welcome Christmas, and many American investors will begin their long holiday, which is expected to last until around January 5.
During this period, market liquidity may shrink further, adding more uncertainty to price movements.
Major exchanges in Europe and the U.S. will be closed during the Christmas holiday, and market funds typically tend to flow out during this time.
As a major external source of funds for the cryptocurrency market, the outflow of funds from spot ETFs will undoubtedly put significant pressure on the market, and the market's risk-averse sentiment appears to be particularly strong.
What is even more concerning is that due to the funding squeeze during the Christmas holiday, the market may engage in deleveraging operations before Trump takes office, which undoubtedly adds a shadow to the market.