Analyst: Capital will only flow back into the cryptocurrency market after the US stock market reaches a local high
According to TechFlow, on December 24, crypto analyst Michaël van de Poppe posted on X, stating that bitcoin is currently hovering between $85,000 and $90,000 for several weeks, and now it is a waiting game. Only after the US stock market reaches a local high will capital flow back into the crypto market. Market analysis suggests that historically, bitcoin tends to experience fluctuations of 5% to 7% during Christmas, a pattern usually related to year-end options expirations rather than new fundamental catalysts. Data shows that about 300,000 bitcoin options contracts (worth $23.7 billions) and 446,000 IBIT options contracts are set to expire this Friday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Nvidia's newly appointed Chairman of the Board addresses all employees: The company's strength comes from its team, technology, and ecosystem.
In an email, NVIDIA's new Chairman of the Board Harvey Jones stated that the board takes its duty as guardian of this great company very seriously. The company's strength comes from our employees, leadership team, technological capabilities, and partner ecosystem. We will continue to drive business growth and lead the industry forward. Thank you all for your focus, professionalism, and dedication to NVIDIA.
Exodus' 'cost reset is real' as payments offset crypto wallet slowdown, StoneX says
Crypto prices
More
