Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Analysis: The recent downturn in the crypto market is not due to fundamental factors, but rather investors taking profits at the end of the year

Analysis: The recent downturn in the crypto market is not due to fundamental factors, but rather investors taking profits at the end of the year

Bitget2024/12/20 12:40

According to Bloomberg, Edward Chin of Parataxis said, "The recent market downturn seems like investors are taking profits at the end of the year, and there aren't any fundamental factors that have triggered this sell-off." Due to reduced expectations for a Federal Reserve rate cut in 2025, some investors may be choosing to reduce their exposure and take profits.

Chris Weston, head of research at Pepperstone Group, wrote in a report that "Technically speaking, caution should be exercised in the short term. This does not mean we will see prices plummet soon but the momentum of the uptrend has clearly weakened and buyers have lost their dominant position and control over the market."

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!