Analyst: The recent decline in the crypto market is not caused by fundamental factors, but by investors taking profits at the end of the year.
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Odaily Odaily News: Edward Chin of Parataxis said, "The recent market decline looks like investors taking profits at the end of the year, and there are no fundamental factors that triggered the sell-off." As expectations of a Fed rate cut in 2025 have decreased, some investors may be choosing to reduce their exposure and take profits. Chris Weston, head of research at Pepperstone Group, wrote in a report, "Technically, caution should be exercised in the short term. This does not mean that we will see a price crash soon, but the momentum of the rally has clearly weakened, and buyers have lost dominance and control of the market." (Bloomberg)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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