Bitcoin price dropped by 12% from its all-time high of $108,000 on December 17th to its lowest daily level at $93,810. This marks the worst weekly performance of Bitcoin since Trump’s victory in the US presidential election. Rekt Capital, a renowned digital currency analyst, points out that Bitcoin has formed a bearish pattern indicating a potential price correction for the digital currency in the coming weeks. Despite this decline, Bitcoin has still seen a 40% growth since Trump’s victory, and optimism remains. The cautious stance of the Federal Reserve has also influenced market optimism. Sean McNulty from Arbelos Markets predicts that the $90,000 level should be maintained. David Lawant from FalconX mentioned the expiration of $18 billion worth of digital currency futures contracts on December 27th, which could increase volatility.
