BTC has been in turmoil again on the eve of Christmas, with market sentiment quickly turning from optimistic in early December to gloomy. Yesterday evening, it rebounded to $96,500 before plunging again, reaching a low of around $92,525 around 4 a.m. this morning.
At the time of writing, BTC has rebounded to the $94,000 level, still within a downward channel, but The Block CEO Larry Cermak stated that users need not be overly panicked, as the correction to delever is to prepare for the next upswing.
Past bull markets have often been accompanied by at least three major corrections of more than 20%, and these corrections not only can eliminate excessive leverage, but also can reserve more momentum for the next wave of market upswing.
Bitcoin Spot ETF Continues to Outflow, but the Amount Decreases
In terms of Bitcoin spot ETF fund data, there has been a continuous outflow in the past three days, but the amount has not continued to expand, as Western countries are about to enter the Christmas holiday, and whether the outflow can be stabilized remains to be further observed.
