Bitcoin fell below 94K and the bull market ended!? A market storm is coming!?

Bitcoin has fallen more than 7% over the past week and is currently trading around $94,000. That’s down about $14,000 from the December 17 peak of $108,135, suggesting the recent bull market has entered a correction phase.

Bloomberg reported that Bitcoin’s downturn was mainly attributed to changes in the Federal Reserve’s monetary policy. News that the Federal Reserve is slowing down the pace of monetary easing to combat inflation has dampened investor sentiment, especially its hawkish stance, dampening speculation in the cryptocurrency market and moderating concerns about President-elect Trump's crypto-friendly policies and the country. Expectations of Bitcoin Reserve Proposal.

Sean McNulty, director of trading at Arbelos Markets, stressed the critical importance of Bitcoin maintaining $90,000 levels before the end of the year.

He warned that a break below that level could create additional selling pressure that could lead to a significant price drop.

FalconX head of research David Lawant offered a more optimistic outlook. He believes that although low liquidity at the end of the year may increase Bitcoin’s volatility, there is a strong possibility of a bullish reversal in the first quarter of 2025

. He highlighted that the upcoming options expiration event on December 27 - the largest in crypto history - could be a catalyst for market movement.