On December 13, Jag Kooner, the head of Derivatives at Bitfinex, stated that the shift in major central bank monetary policies will boost global liquidity, which is beneficial for the cryptocurrency market. The ECB announced its fourth rate cut of the year this week, lowering the deposit rate by 25 basis points to -0.3%; after the People's Bank of China's first rate cut in 14 years, Goldman Sachs and Morgan Stanley expect further 40 basis points of rate cuts by 2025, the largest annual decline since 2015; on the US side, the CME FedWatch tool shows a probability of over 96% for a 25 basis point rate cut by the FOMC on December 18.
Kooner added that the market has experienced a significant deleveraging of $1.7 billion in liquidations recently, coupled with the "Christmas effect" at the end of the year, which bodes well for a new round of Bitcoin's upward trend. (The Block)
