Summary
- It was stated that although cryptocurrency investors from the U.S. and Europe have returned, the market is still in an adjustment phase.
- The U.S. stock market adjustment is increasing uncertainty in the cryptocurrency market, and with a low possibility of a rate cut, there is a lack of short-term positive factors.
- In the long term, it is predicted that there are positive factors remaining, such as Bitcoin as a strategic reserve asset.
There are claims that although cryptocurrency investors from the United States and Europe have returned, the market is still in an adjustment phase.
On the 2nd (local time), Adam, a macro researcher at Griggs.Live, stated on X, "As cryptocurrency investors from Europe and the United States return from holidays, the overall market enthusiasm is rising again," but added, "It is still an adjustment phase with no clear signs of an upward trend." He further analyzed, "The adjustment in the U.S. stock market over the past few days has brought considerable uncertainty to the cryptocurrency market," and "The possibility of a rate cut in the upcoming interest rate decision meeting is low, so there is a lack of short-term positive factors."
However, Adam predicted, "The major trend of the cryptocurrency market cannot be stopped," and foresaw several long-term positive factors remaining, such as the inauguration of U.S. President-elect Donald Trump and Bitcoin as a strategic reserve asset.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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