TechFlow news, on December 24, according to Jinshi News, Bitcoin is experiencing one of its weakest December performances in history, down 2% over the past 30 days. The traditional "Santa rally" expectation has been dashed due to profit-taking and the Federal Reserve's indication of fewer rate cuts next year.
Alex Kuptsikevich from FxPro said that Bitcoin falling below $90,000 could present new opportunities for market traders. "In a potential shock scenario, Bitcoin might suddenly drop below the $70,000 level. However, a retracement back to $90,000 within the coming weeks is more likely, which would be attractive enough for buyers to prevent further selling." Kuptsikevich noted that markets are adjusting to the Fed's hawkish stance, combined with profit-taking following this year's strong gains, putting downward pressure on current prices.
