According to Deep Tide TechFlow, on December 24, Bitcoin is experiencing one of its weakest December performances in history, having fallen 2% in the past 30 days. The traditional 'Christmas rally' expectations have been shattered due to profit-taking and the Federal Reserve indicating it will reduce the number of rate cuts next year.
Alex Kuptsikevich from FxPro stated that Bitcoin falling below $90,000 could mean new opportunities for market traders. 'In a potential shock scenario, Bitcoin could suddenly drop below the $70,000 range. However, the likelihood of a pullback to $90,000 in the coming weeks is greater, making it attractive enough for buyers to prevent sell-offs.' Kuptsikevich noted that the market is digesting the Federal Reserve's hawkish stance, along with a willingness to take profits after this year's strong gains, which is pressuring current prices.