#ChristmasMarketAnalysis

Matt Hogan, chief investment officer at Bitwise Asset Management, attributed the recent pullback in the crypto market to a “natural deleveraging” and stressed that “the long-term factors are still intact and we remain in a strong bull market.” The pullback has caused a massive explosion, reducing market leverage, and with Christmas approaching this week, global markets could be in a “Christmas market,” which refers to the last five trading days of the year and the first two trading days of the new year. Historically, U.S. stock markets have a positive momentum during these seven days.

Bitcoin is currently heavily dependent on U.S. stocks and gold