Bitcoin, which launched a major rally after the US elections and broke its historical records once again by reaching $ 108,000 last week, closed the week in negative territory for the first time since Trump's victory. The largest cryptocurrency experienced a 7% decrease compared to the previous week.$BTC
As you may recall, the Fed cut interest rates by 25 basis points on Wednesday evening, as expected by the markets. However, Powell’s statements and other Fed members’ predictions for 2025 led to declines.
"Bitcoin should not fall below $90,000..."
Speaking to Bloomberg, Sean McNulty, a managing director at Arbelos Markets, said Bitcoin should remain at $90,000:
“Bitcoin should not fall below $90,000 by the end of the year. If it falls below that level, the declines could accelerate. We saw some hedging in the options markets last week. Put options were seen between $75,000 and $80,000 for January, February and March.”
It should be noted that put options purchased with futures transactions represent transactions made with the expectation that prices will fall.
As of press time, Bitcoin was trading at around $95,800 and has gained around 38% since election day.
Bitcoin and cryptocurrency investors are eagerly awaiting the day Donald Trump will be officially inaugurated on January 20 and the days that follow.
