#BitwiseBitcoinETF During the Christmas period, the market witnessed many positive factors, and the cryptocurrency market performed strongly. Driven by the “Santa Festival”, Bitcoin has once again returned to the center of attention in the market. Among this, institutional investor MicroStrategy continued to increase its BTC holdings, which greatly enhanced the bullish sentiment in the market. Today, more than $14 billion worth of Bitcoin options are set to expire, making it one of the largest options events in history, attracting widespread attention.
This completion is expected to lead to short-term price volatility. The continued buying by institutional investors has not only injected confidence into the market, but also accelerated expectations of BTC price growth. Recently, Bitcoin reserves on Binance have dropped significantly. This is usually seen as a positive sign for Bitcoin price growth. The market generally believes that the decline in reserves means that investors are moving BTC away from exchanges, reducing the circulating supply and pushing the price higher. It is possible that AI, through big data analysis, showed that 61% of traders chose the “buy” direction, which is also the main reason why the AI trading system suggested buying BTC. Despite the high expectations of the “Santa Festival,” BTC price did not rise as expected today, and the decline in the US stock market was the main reason for today’s losses.
U.S. stocks fell broadly, with the S&P 500 down 1.4% and the Dow Jones Industrial Average falling for the first time in six trading days, dropping more than 420 points (about 1%). The Nasdaq fell nearly 2%, and the chip sector index fell 2.3%. Technology stocks were the hardest hit, with the S&P Technology sector down 1.8%, the Consumer Discretionary sector down 1.6% and the Communications Services sector down 1.2%.