Christmas Eve Market Analysis

News:

Market Closure: With the Christmas holiday approaching, the Hong Kong stock market and financial markets in several European countries will be closed for two and a half days starting Tuesday (24th), while the US stock market will be closed for one and a half days.

On Monday, as the US government avoided a shutdown crisis and traders continued to weigh the prospect of smaller interest rate cuts next year, the US dollar rose by 0.24%.

Affected by the rebound of the US dollar and US Treasury yields, Bitcoin fell by 3000 points last night, reaching a low of around 92500.

Due to ongoing concerns about the market outlook for next year and the strengthening of the US dollar, cryptocurrencies have been relatively quiet before the Christmas holiday.

This morning, following the recovery of US stocks 📈, Bitcoin rose over 2000 points but then entered a downward fluctuation. In the afternoon, the volatility further shifted with the holiday changes, with a trading range of only 600 points. The main players are optimistic about future market changes.

In the evening, US stocks opened higher, and Bitcoin continued to rise by 2000 points. As mentioned earlier, strong resistance is at the 95500 level. Currently, Bitcoin has broken through to around 96000, but from a four-hour perspective, the buying energy is insufficient and market buying volume is low, with no momentum for an upward climb. The current market sentiment remains favorable.

At 2 AM, due to the early closure of US stocks, the market adjusted accordingly, and the evening session synchronized with a rebound in Bitcoin. Strong resistance is currently around 98000, and Bitcoin is gaining strength along with the recovering US stocks; future attention should be on real market rebound entry points.