An even more serious Bitcoin correction?
It seems that it is not too late to buy Bitcoin and it may be even less late during the Christmas holidays! The little orange coin continues to see its price fall and the situation could get even worse in the days to come.
The FED does not intend to wish crypto a Merry Christmas this year since it announced two interest rate cuts for 2025, compared to five initially anticipated. Following this news, BTC continued to fall, even reaching $95,000 last night.
In doing so, the token completely broke its bullish structure! According to trader Karan Arora, Bitcoin absolutely must return to $99,000 to bring the uptrend back. Otherwise, a drop towards $91,000 to $90,000 is to be expected during the holidays. A fall that is also currently confirmed by the Elliott wave theory!
But that's not all! Correlation between Bitcoin price and global money supply (M2) could cause a major crypto correction. As analysts from The Kobeissi Letter indicate, the second collapsed and BTC still followed the trend around ten weeks later. This could potentially drop it to $20,000 in a worst-case scenario.
Buyers remain there
Despite the bearish crypto predictions piling up for the end of the year, investor interest has never been at an all-time high. According to Santiment, Bitcoin's market capitalization has corrected much less than that of altcoins, giving rise to renewed interest in the token.
It seems that now is more than ever the time to buy as shown by Metaplanet which acquired 619 BTC this morning. As for the US Bitcoin reserve promised by Trump, it could reduce the national debt by 35% by 2049, according to an analysis by VanEck. Investors therefore seem much more optimistic than the experts.
The moral of the story: when the Christmas holidays pass, Bitcoin has debts and dirty laundry.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult a professional before making any financial decisions.
