Bitcoin $97,645.2 (BTC), from the beginning of 2023, a typical bull market tendency to move in a succession of a succession and then consolidated structure has advanced. The third stage of this rise, which starts from $ 20,000, continues with a stuck between 90 thousand to 100 thousand dollars. This December bull marketIt is accepted as part of it and a great exit is expected. However, several developments that can lead to the loss of the biggest crypto currency on the agenda are on the agenda.
Contraction in the US dollar liquidity
Each class of assets is negatively affected by the narrowing of Fiat liquidity, not only the crypto money market. Especially the world reserve currency USA DollarThe tightening of liquidity is a danger to Bitcoin.
Maelstrom’s chief investment manager Arthur HayesAccording to a statement made by the US Treasury General Account (TGA) Cash balance rose from $ 623 billion to 800 billion dollars in four weeks. This increase took place after the government reached the current debt limit. In the past, in such cases, the government had pumping liquidity into markets by reducing the TGA balance, but this is changing.
If the TGA balance is strictly controlled, the risk of borrowing costs and the risk of slowing economic activities arises. This is Crypto Money MarketIt may cause risk appetite to a decrease.
Trump Management’s Bitcoin Reserve Plan
47th US President Donald TrumpIn his previous statements, his management was planning to create a strategic reserve for Bitcoin. This news was an important factor in Bitcoin’s rise to $ 100,000 from $ 70,000. However, the Trump administration announced that it will only “evaluate this plan. Crypto currency investors quickly waited for concrete steps, this situation caused disappointment.
Trump’s quick decisions about crypto currency created the expectation that this plan would be implemented rapidly. However, the prolongation of this waiting is the biggest crypto currencyThe price of the price of 100 thousand dollars late at night to 96 thousand dollars caused.
Repetition of the 2021 summit model
14 weeks for technical analysis Relative power index (RSI) has become an indicator that needs to be followed carefully. Because the RSI shows a negative deviation despite the upward prices. This was observed just before Bitcoin reached the summit in 2021.
RsiIn December, it contradicts the price rise from the summit. If the RSI breaks the downward trend and moves upwards, a new bull market signal can be taken. However, this negative structure is preserved for now.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
