According to ChainCatcher news, 10x Research stated in its latest report that the cryptocurrency trading environment remains complex and volatile during the U.S. Federal Open Market Committee (FOMC) meeting in December 2024 and the subsequent holiday season. However, there are still profit opportunities in specific sectors. Bitcoin is in a consolidation phase during this period, seemingly lacking a sustained upward trend, and fluctuating within a tactical trading range, providing opportunities for strategic positioning rather than a simple bullish trend. While some initial enthusiasm is expected at the start of the new year, it is not the time to recreate the bullish sentiment seen from late January to March or from late September to mid-December 2024. A positive performance is anticipated at the beginning of the year, followed by a slight pullback ahead of the Consumer Price Index (CPI) data release on January 15. If the inflation data performs well, it could reignite optimism, pushing the market up before the January 20 inauguration of Trump. However, this momentum may weaken, and the market could slightly retreat before the FOMC meeting on January 29.
From January to mid-November 2024, Bitcoin's dominance surged from 50% to 60%, posing significant resistance to altcoin performance. Although the dominance metric briefly plummeted to 53% within three weeks, igniting hopes for an altcoin season, it quickly rebounded to nearly 58%, followed by consolidation around 55%. This consolidation highlights Bitcoin's enduring dominance as the main driving force in the cryptocurrency market, while also indicating that altcoins may face potential challenges—unless Bitcoin's dominance metric declines again.
