The quality of decision-making depends on the information you have and your ability to process it.
Bridgewater Fund Founder: Ray Dalio - “Principles”
At the time of writing this article, the price of Bitcoin, although below $100,000, hovers around $98,300. However, as I mentioned in yesterday’s article ‘Christmas, Bitcoin Will Rise?!’: ‘Low trading volume and market interest may signal an accumulation phase, especially for potential gains in altcoins.’ The performance of Bitcoin and the crypto market today on Christmas is consistent with the forecast.
In my opinion, Bitcoin retracements are quite common in bull markets. Retracements are simply opportunities for some professional and powerful individuals or institutions to accumulate more Bitcoin.
Although Bitcoin experienced some outflows in the week before Christmas, it ultimately saw a net inflow of $375 million, reflecting that market sentiment is not as pessimistic as expected.
The capital inflows of Ethereum spot ETF have significantly increased, showing a more optimistic outlook. The cumulative capital inflow reached 184.6 million US dollars within two days. Among them, BlackRock’s Ethereum spot ETF - ETHA performed outstandingly and accounted for the majority, with an inflow amount of 133.4 million US dollars.
On December 27th, Deribit will see the largest ever $14 billion Bitcoin options expiration, which may trigger market volatility. Speculators are reminded to “avoid high leverage trading to reduce risk - risk management is always the key!”
Russia recently issued a ban on crypto mining—starting from January 1, 2025, crypto mining will be prohibited in 10 regions of Russia due to its high energy consumption. This ban mainly targets areas with electricity subsidies, aiming to protect the electricity needs of residents. However, Russia’s neighbor Belarus is offering incentives to attract miners expelled from Russia.
Note: All content represents only the author’s personal opinions and is not investment advice, nor should it be construed as tax, accounting, legal, business, financial or regulatory advice in any way. Before making any investment decisions, you should seek independent legal and financial advice, including advice on tax consequences.
#比特币市场波动观察 # Bitcoin Strategic Reserve #本周微策略是否继续增持BTC？ # El Salvador will “accelerate” BTC holdings $BTC
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