Bitcoin falls further amid year-end wait-and-see attitude

Here is the English translation of the text, with the specified terms retained: "No 'Santa Rally', Disappointment Dominates Cryptocurrency Market BTC Drops 2% as Soon as the Day Changes...Touches $93,000 Market: 'Rise in USDT Dominance Signifies Year-End Cautious Sentiment' Experts Forecast Rebound Based on Exchange BTC Deposits The disappointment that there is 'no Santa Rally' has been lingering in the market, and Bitcoin (BTC) saw a slight decline on the 30th. Bitcoin dropped 2% as soon as the day changed, falling to the $93,000 level. The disappointment that the Santa Rally, which typically sees a significant rise in asset prices around Christmas, has essentially faded away has led to continued selling pressure from investors. In particular, the hawkish message delivered by the US Federal Reserve (Fed) through the FOMC press conference in December also appears to be suppressing the year-end market rebound. Notably, Bitcoin's dominance has decreased, while USDT dominance has increased. Experts interpreted this as the market entering a year-end cautious sentiment. The decline in Altcoins has further intensified with the drop in Bitcoin. ◇ Bitcoin = As of 4 pm on the 30th based on Upbit, the price of Bitcoin is 13,823 million won. Bitcoin's market share (dominance) was 57.79%. According to on-chain analysis platform Sygbit, the long (bullish) and short (bearish) betting ratio in the Bitcoin futures market was 66.24% and 33.76%, respectively. Despite Bitcoin's decline, a forecast for Bitcoin's rebound has been released. Alex Adler, an analyst at Cryptoquant, predicted in a report released on the 29th that Bitcoin could soon rebound, as the amount of Bitcoin deposited in exchanges has reached its lowest level since 2016. Adler forecasted that while Bitcoin is currently showing weakness by declining from $100,000, the on-chain data shows a positive trend. He stated that 'the decrease in daily exchange deposits to the lowest level since 2016 can potentially provide a more solid foundation for Bitcoin to rise further'. ◇ Rising Coins = The cryptocurrency that recorded the largest increase compared to the previous trading day on Upbit as of 4 pm on the 30th was Solana (SXP), which rose by about 30%. Solana (SXP) is a coin that has been rebranded from Swipe. Solana is a multi-asset digital wallet based on a blockchain designed to securely store user assets. The Solana wallet allows users to buy, sell, and pay using the cryptocurrencies held in the wallet, including the ability to purchase gift cards and exchange them for supported cryptocurrencies on the platform. ◇ Fear and Greed Index = The Cryptocurrency Fear and Greed Index provided by Alternative is at 65 points, entering the 'Greed' stage. The Greed stage is characterized by high price volatility and trading volume, indicating a price uptrend. There is a high likelihood of a short-term peak formation, so caution is advised when selling. The Cryptocurrency Relative Strength Index (RSI) provided by Sygbit is at 38.1, indicating a 'Neutral' state. RSI measures the relative strength of the upward and downward pressure on a specific asset's price, serving as an indicator of overbought and oversold conditions. Reporter Kwon Seung-won ksw@blockstreet.co.kr