The new trading week has kicked off with a volatile start as Bitcoin (BTC) saw its first weekly close above the coveted $100,000 mark. However, this achievement is short-lived, as analysts warn of a potential $10,000 downside wick from last week’s market.
CPI Week and Fed Interest Rate Decision Looming Large
The Consumer Price Index (CPI) print for November marks the highlight of this week’s US macroeconomic calendar. With less than 10 days until the Federal Reserve’s interest rate decision, markets are increasingly betting on policy easing continuing. The latest data from CME Group’s FedWatch Tool indicates a majority odds of 85% that a 0.25% rate cut will follow the Fed’s Dec. 18 meeting.
China Embarks on Rare Fiscal Easing
A classic macro boost for Bitcoin may yet come from China as soon as 2025. China has announced that it plans to relax fiscal policy next year – the first such shift since 2010 and a move seen as highly symbolic by risk-asset traders. The potential influx of liquidity could positively impact BTC price momentum.
Microsoft to Decide on Bitcoin Strategy
Institutional Bitcoin adoption may hit the headlines in the coming days as technology giant Microsoft votes on whether to add BTC to its balance sheet. Following a pitch by Michael Saylor, CEO of business intelligence firm MicroStrategy, to its board, Microsoft now faces a decision as to whether to copy his Bitcoin treasury.
Choppy New Year Ahead?
Despite its run-up to new all-time highs, Bitcoin may face a protracted consolidation period and increasingly stubborn resistance levels. According to analysis from CryptoQuant, which sees ‘choppiness’ characterizing short-term BTC price behavior.
CPI Week and Fed Interest Rate Decision Looming Large
The CPI print for November marks the highlight of this week’s US macroeconomic calendar. With less than 10 days until the Federal Reserve’s interest rate decision, markets are increasingly betting on policy easing continuing.
China Embarks on Rare Fiscal Easing
A classic macro boost for Bitcoin may yet come from China as soon as 2025. China has announced that it plans to relax fiscal policy next year – the first such shift since 2010 and a move seen as highly symbolic by risk-asset traders.
Microsoft to Decide on Bitcoin Strategy
Institutional Bitcoin adoption may hit the headlines in the coming days as technology giant Microsoft votes on whether to add BTC to its balance sheet. Following a pitch by Michael Saylor, CEO of business intelligence firm MicroStrategy, to its board, Microsoft now faces a decision as to whether to copy his Bitcoin treasury.
Choppy New Year Ahead?
Despite its run-up to new all-time highs, Bitcoin may face a protracted consolidation period and increasingly stubborn resistance levels. According to analysis from CryptoQuant, which sees ‘choppiness’ characterizing short-term BTC price behavior.
Bitcoin Price Metric ‘Bearish Since October’ Warns Analyst Amid $10K Dip
That is according to analysis from CryptoQuant, which sees ‘choppiness’ characterizing short-term BTC price behavior. The Choppiness Index is not unique to Bitcoin, but on daily timeframes, it suggests that a breakout from the current trading range on BTC/USD is increasingly unlikely.
Key Price Points Worth Noting
- $110,000: a future ‘deeper consolidation camp’ due to its psychological pull and profitability levels for short-term holders.
- $120,000: a level of profitability for short-term holders that could serve as resistance in the coming days.
The Psychological Pull of the $120,000 Mark
This level is considered a deeper consolidation camp, making it increasingly difficult for BTC to break above. This is due to its psychological pull and profitability levels for short-term holders.
Choppy New Year Ahead?
Despite its run-up to new all-time highs, Bitcoin may face a protracted consolidation period and increasingly stubborn resistance levels. According to analysis from CryptoQuant, which sees ‘choppiness’ characterizing short-term BTC price behavior.
