The crypto market has seen significant price fluctuations in 2023, especially in November and December following the elections. Bitcoin (BTC) was at approximately $94,300 and Ether (ETH) around $3,400 as of Monday, reflecting drops of about 12% and 15%, respectively, from their December highs. Analysts attribute this downturn to the Federal Reserve's more hawkish stance, predicting only two rate cuts next year, which has dampened market sentiment. Investors are also engaging in tax-loss harvesting and locking in gains, contributing to a 'healthy' correction typical after a BTC run-up. The key psychological level to watch for BTC is $110,000; a breakthrough may lead to a rally towards $120,000 or even $150,000. However, some predict continued corrective sentiment into 2025 due to historical correlations and financial dynamics. Others, like Galaxy's Alex Thorn, expect BTC to reach 20% of gold's market cap by 2025, projecting a rise to $150,000 in the first half and possibly $185,000 later in the year, driven by institutional buying and market momentum.

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