CoinVoice has recently learned that 10x Research stated in its latest report that the cryptocurrency trading environment remains complex and volatile during the U.S. Federal Open Market Committee (FOMC) meeting in December 2024 and the subsequent holiday season. However, specific areas still present profit opportunities. During this period, Bitcoin is in a consolidation phase and does not seem to exhibit a sustained upward trend, instead fluctuating within a tactical trading range, providing opportunities for strategic positioning rather than a simple bullish trend. While some initial enthusiasm is expected at the beginning of the new year, it is not the time to recreate the bullish sentiment seen from late January to March or from late September to mid-December 2024. Positive performance is anticipated at the start of the year, followed by a slight pullback before the release of the Consumer Price Index (CPI) data on January 15. If inflation data performs well, it could reignite optimism, pushing the market up before Trump's inauguration on January 20. However, this momentum may weaken, and the market could see a slight retreat before the FOMC meeting on January 29.
From January to mid-November 2024, Bitcoin's dominance surged from 50% to 60%, creating significant resistance for altcoin performance. Although the dominance metric briefly plummeted to 53% within three weeks, sparking hopes for an altcoin season, it quickly rebounded to nearly 58%, followed by consolidation around 55%. This consolidation highlights Bitcoin's enduring dominance as the primary driving force in the cryptocurrency market, while also indicating that altcoins may face potential challenges—unless Bitcoin's dominance metric declines again. [Original link]