Bitcoin's recent performance shows signs of caution for bulls after a shooting star candlestick pattern emerged in December, indicating potential bearish sentiment. Following a record high of over $108,000 reached in December, Bitcoin closed the month below $94,000, marking its first monthly loss since August. The shooting star pattern, characterized by a long upper wick and a small body, suggests that although buyers initially pushed prices higher, sellers took control near the highs. The $91,186 level from December is crucial for bulls to defend, as a drop below could confirm bearish tendencies. This pattern coincides with macroeconomic pressures, including hawkish Federal Reserve signals and rising Treasury yields, which challenge risk assets. Analysts, however, predict a turnaround in the Fed's stance early in 2025, potentially leading to a bullish environment for Bitcoin and other risk assets moving forward.

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