Currently, Bitcoin is supported by ETF products and funds from listed companies. Although the Federal Reserve has cut interest rates, the financial environment is still tight. Since September, long-term bond yields and mortgage rates have risen, and the US dollar has appreciated, which brings macro risks to Bitcoin, because it is often accompanied by a contraction in the global money supply, which is unfavorable for crypto assets.
With Christmas approaching, the end of the fiscal year and the expectation of Trump's inauguration, capital market sentiment has been "priced in", and the end of the year is usually flat. However, Arthur Hayes believes that the cryptocurrency market may plummet around Trump's inauguration on January 20, 2025, and then rebound, and investors can buy on dips. Bitcoin is expected to fluctuate between $80,000 and $110,000, similar to the fluctuations between $50,000 and $70,000 in March this year, until new events change the trend.
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