The post Is the Trump Rally Over in Bitcoin? Will the Decline Continue? Analysts Answered! appeared on BitcoinEthereumNews.com.

As is known, although the FED cut the interest rate by 25 basis points last week in line with expectations, FED Chairman Jerome Powell made hawkish statements. Following these statements, Bitcoin (BTC) experienced a sharp decline to $92,000 levels, recording its first weekly loss since Donald Trump’s US election victory. Bitcoin has fallen more than 7% in a week, suffering its first weekly loss since Donald Trump won the US presidential election, Bloomberg reported. This is the sharpest decline since September, driven by the cautious Fed stance that has cooled enthusiasm for Trump’s cryptocurrency-friendly stance. The Fed made its third consecutive rate cut on Wednesday, but Powell signaled that monetary easing, or rate cuts, would be slower next year to keep inflation under control, sending global stocks into a downward spiral. The decline in stocks also had a negative impact on the Bitcoin and cryptocurrency markets, while Powell’s hawkish stance and his statement that he would not agree with Trump’s promise of a national Bitcoin reserve deepened the decline even further. Evaluating the decline in Bitcoin and the latest situation, liquidity provider Arbelos Markets analyst Sean McNulty stated that the record outflow in US spot Bitcoin ETFs last week could lower prices even further in the short term. “We need to maintain the $90,000 level for Bitcoin until the end of the year for further upside, but if we fall below that level we could trigger further liquidation. “In the past week, options traders have also been hedging to the downside. At this point, we see big buyers at the $75,000 to $80,000 hits in January, February and March.” FalconX head of research David Lawant said there will be a major bull run in the first quarter of 2025, but prices will remain volatile in the short term before then.…

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Filed under: News - @ December 23, 2024 7:19 am