Analysis: Hopes for a Bitcoin "Christmas Rally" This Year May Have Been Shattered

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ODAILY
2 days ago
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Odaily Odaily News Cryptocurrency markets often experience cyclical changes, with Bitcoin leading the rise first, followed by Altcoin. Investors use their newly acquired market gains to seek additional returns, causing capital to flow into Altcoin, triggering a sharp rebound in a short period of time. Currently, Bitcoin is experiencing one of its worst Decembers to date, dimming the seasonal bull market period, and has fallen 2% in the past 30 days. Due to profit-taking and cautious sentiment after weeks of price volatility, hopes for a "Santa rally" - a phenomenon in which assets tend to rise during Christmas week - may have been dashed. Some warn that Bitcoin may see further declines as the Federal Reserve hints at fewer rate cuts next year and emphasizes that it is not seeking national Bitcoin reserves. (Coindesk)

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