MicroStrategy's founder, Michael Saylor, hinted at the recent Bitcoin drawdown during the 2024 winter holidays by tweeting a picture of himself with a Bitcoin symbol and a Christmas tree. The cryptocurrency experienced a 4.57% drop, resulting in a loss of approximately $2 trillion in market capitalization. However, CryptoQuant CEO Ki Young Ju believes that Bitcoin is unlikely to drop lower than 30% from its current price level, and even if it does, it would quickly recover. Ju also noted that financial institutions and whales have been purchasing large amounts of Bitcoin this year through privacy transactions.



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