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Analyst: BTC's pullback this time is mainly to eliminate the Overbought state, not a trend reversal.
CoinVoice latest learned, according to Bloomberg, BTC set the longest consecutive decline record since Trump won the US presidential election. As of Monday, BTC has fallen for about 6% for three consecutive days.
Since Election Day on November 5th, the Cryptocurrency market total Market Cap has risen by $1 trillion, but the current rise has stalled. Analyst Tony Sycamore from IG Australia believes that this pullback is mainly to eliminate the Overbought state and is not a trend reversal.
Adrian Przelozny, CEO of Independent Reserve, said that the current Bull Market sentiment is expected to continue until 2025. TD Cowen analyst Jaret Seiberg pointed out that Trump's inauguration will give him control over the US SEC, which will help to relax Cryptocurrency regulation. [Original link]