CoinVoice has recently learned that, according to Jin Ten reports, Bitcoin is experiencing one of its weakest December performances in history, down 2% over the past 30 days. Due to profit-taking and the Fed hinting at fewer rate cuts next year, the traditional 'Christmas rally' expectations have been shattered.
Alex Kuptsikevich of FxPro stated that a drop in Bitcoin 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, the likelihood of a pullback to $90,000 in the coming weeks is greater, which is attractive enough for buyers to prevent sell-offs. Kuptsikevich pointed out that the market is digesting the Fed's hawkish stance, combined with the willingness to take profits after this year's strong rally, leading to the current price pressure. [Original link]
