According to ChainCatcher news and Bloomberg reports, Bitcoin has set the longest consecutive decline record since Trump won the U.S. election. As of Monday, Bitcoin has fallen for three consecutive days by approximately 6%.
Since the election day on November 5, the total market capitalization of the cryptocurrency market has increased by $1 trillion, but the current growth momentum has stagnated. IG Australia analyst Tony Sycamore believes that this pullback is mainly to eliminate overbought conditions and not a trend reversal.
Independent Reserve CEO Adrian Przelozny stated that the current bullish sentiment is expected to last until 2025. TD Cowen analyst Jaret Seiberg pointed out that Trump will gain control of the U.S. SEC after taking office, which will favor the relaxation of cryptocurrency regulations.
