Christmas “coal” market: Bitcoin traders frown

Cryptocurrency traders who were expecting a “Christmas rally” instead received “Christmas stockings full of coal.” Bitcoin is down 7% in the past seven days, Ethereum is down 10% over the same period, and Ripple and Solana have also seen similar losses.

The Fed's hawkish pressure: The cryptocurrency market has been shrouded in bearish sentiment recently. Bitcoin retreated from its highs of $108,000 as the Federal Reserve signaled it would maintain its hawkish policy in 2025. Investors generally reduced risk exposure, further suppressing market performance.

Trading volumes were sluggish during the holidays, but small transactions had a significant impact on the market. Traders are exercising caution to prevent further price swings.

TradingView Data Glitch: Last Thursday, Bitcoin prices fell again, ending a two-day rally, which was related to a TradingView chart error. The platform once mistakenly displayed that Bitcoin's market capitalization accounted for 0%, causing market panic and the price falling to around $95,000. At the time, approximately $33 million in long Bitcoin positions were liquidated in just four hours.

Although the data was subsequently fixed, the incident highlighted market concerns about Bitcoin’s dominance. In mid-November, Bitcoin's market value accounted for more than 61.5%, and then fell back, which also increased the market's expectations for the rotation of altcoins.

Price Outlook 2025: Despite the recent downturn, experts remain optimistic about the future price of Bitcoin. K33 Research Institute predicts that the Bitcoin price will reach at least US$146,000 in 2025; Standard Chartered Bank, Bernstein and Bitwise are targeting US$200,000. Fundstrat founder Tom Lee raised his forecast to $250,000.

As U.S. President-elect Trump is about to take office on January 20, investors are paying attention to the direction of his cryptocurrency policy. Trump has even stated that he is open to establishing a strategic reserve of Bitcoin, which may become a key driving force for the future development of Bitcoin. #“圣诞老人行情”再现 #美国加密立法或将重启 #加密市场调整 #2025有哪些关键叙事？ #比特币采用 $BTC$GMT