Bitcoin (BTC) is off to a positive start in 2025, with projections placing its value at $185,000 and higher. However, recent price action has raised concerns as sellers are looking to regain control, potentially leading to a significant price drop. In December, BTC reached a record high but ended the month negatively, forming a bearish reversal candlestick pattern called a "shooting star." This pattern suggests that buyers initially drove prices higher, only for sellers to take control and push prices below the opening level, indicating a renewed bearishness in the market. The shooting star, along with recent hawkish signals from the Fed, rising Treasury yields, and a strengthening dollar index, points to challenging times for risk assets. However, analysts are confident that the Fed will reverse its recent decision, leading to a bullish trajectory for BTC and risk assets in general.
- Content Editor ( coindesk.com )
- 2025-01-03
Beware of Bitcoin's 'Shooting Star' Warning at Record Highs: Godbole