Bitcoin (BTC) continues to experience bearish trading, briefly falling below $92,000 on Monday as investors cash out after a yearly surge of 117%. December is likely to close down 4%, marking its worst performance since 2021. Traders at QCP Capital express skepticism about significant price movements in January, suggesting that BTC will remain in a range until February when potential policy changes from the incoming U.S. president may impact the market. Options trading reflects this sentiment, with traders actively purchasing call options for March, indicating expectations of price increases. Meanwhile, MicroStrategy added another 2,138 BTC to its holdings, bringing its total to 446,400 BTC, yet this news did not halt the downward price trend. Additionally, ETFs holding BTC are experiencing significant outflows, totaling $420 million in the waning days of 2024, which reflects shifting investor sentiment and a cautious outlook on Bitcoin's near-term performance.

Source 🔗