kraukonge：Santa Came Early In Crypto? Bitcoin Rally May Have Passed

 kraukonge：Santa Came Early In Crypto? Bitcoin Rally May Have Passed

Bitcoin saw positive price action recently but failed to follow through and could remain rangebound for December. The cryptocurrency rose from a new yearly low at $15,500, and market participants were expecting further profits, but the market has stalled.
As of this writing, Bitcoin is moving between $16,900 and $17,100. The cryptocurrency still maintains profits from its previous week, but today’s trading session has leaned towards the downside.
The firm believes equities have been showing strength on the back of a potential U.S. Federal Reserve (Fed) pivot. The financial institution hinted at moderating its monetary policy and reducing its interest rate hike program.
This potential change triggered “strong” bullish momentum for the stock market, allowing Bitcoin and Ethereum to rise 13% and 22% in the past two weeks. Despite the collapse of FTX in November and the fear of contagion, its value is almost back to October levels.
In this context, market participants have been quick to call out the end of the bear market, but QCP Capital claims that there are reasons to maintain a bearish bias. For example, robust economic data from the U.S. might support the Fed to continue its tightening policy.
Thus, the possibilities of the stock market pushing down on Bitcoin and Ethereum are high. There are indications of possible downside pressure for stocks, crypto, and risk on assets.
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