On December 20, 2024, the cryptocurrency market came under intense pressure, and Bitcoin lost about 7% of its value in one day. What caused such a rapid decline?
Fed Statement: At first glance, the rate cut should have supported markets. But Jerome Powell's hint at a slow pace of further easing left investors disappointed.
Record Capital Outflow: US Bitcoin ETFs Face $680 Million Outflow - A Punch in the Heart for Big Players' Confidence
Traders liquidating positions: Amid this price collapse, exchanges began closing losing trades, which resulted in an additional $700 million drop.
The bottom line? An avalanche of negative factors has led to a test of the key $94,000 mark. The market is nervous, but experienced traders know that where there is panic, there is opportunity.
