Bitcoin rebounded from a high of 92,268 dollars to 99,500 dollars on Saturday, but then began to fluctuate downward again. As of the time of writing, it reported a low of 94,300 dollars, with a 24-hour drop of 3.19%. Ethereum also fell below 3,300 dollars, with a 24-hour drop of 2.39%.
In the last 24 hours, liquidations reached 270 million dollars.
In the context of fluctuating declines, according to Coinglass data, in the past 24 hours, the total amount of liquidations in the cryptocurrency market reached 270 million dollars, with long positions liquidating 204 million dollars and short positions 71 million dollars, affecting over 106,000 people.
The European and American markets may be relatively quiet this week.
One of the biggest reasons for this drop is related to the US Federal Reserve hinting last week that it would slow down interest rate cuts in 2025, only lowering by two basis points instead of the previously expected four.
Greeks.live analyst Adam analyzed earlier:
This round of the bull market has not experienced a significant correction yet. Currently, with the Christmas holiday approaching, funds are tight, and a deleveraging event before Trump's inauguration cannot be ruled out. The market sentiment is heavily risk-averse.
Historically, Bitcoin has a low probability of significant volatility during Christmas. Looking at the past ten years, Bitcoin's performance in December shows a 50% chance of closing up, with the smallest increase occurring in 2015 at 13.83%, and the largest increase reaching 46.92%. Among the five times it closed down, the largest drop was 18.9% in 2021, and the smallest was 3.59% in 2022.
Currently, BTC's return for this month is -2.5%. We will soon know whether it can turn positive.
