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I ask again: Can we see the Santa Rally?
Kaiko analysts think there's a chance, although they don't think it's worth getting your hopes up for Bitcoin at $120,000 by the end of the year (sad).
Options data, as shown below, looks promising for a bullish end to December. There are much more calls than puts.
However, analysts believe that any rise may be distributed across the ecosystem, with other coins getting a boost.
“Any upcoming rallies are likely to be much broader than last year. Since the election, smaller tier-1 coins are outperforming Bitcoin and Ethereum, as traders reprice risks amid regulatory shifts in the US,” the analysts wrote.
Oh, and any Santa Rally we see may not follow the traditional rally schedule (meaning it takes place in the last five days of the year through the first two days of the new year). Let's just hope Santa and his elves don't have to work harder for everyone's bags, I guess.
This just supports what we've been hearing from analysts and people interested in cryptocurrencies, which is that they expect cryptocurrencies to emerge strongly in the first half of next year. in This week's Empire caseCMS Holdings' Daniel Matuszewski and Hack's Roshon Patel both struck a bullish tone.
Patel, in particular, believes there could be significant ETF inflows in January, but he expects seasonality to be a factor once we get closer to summer.
"I think as you get into March or May, maybe you can think a little bit more about rebalancing the portfolio, but right now, it's just that. It feels very healthy," he told Jason Yanowitz.
On the other hand, Matochowski said that altcoins could have a market cycle similar to what we have seen in the past. However, he still expects “crazy volatility” from the likes of meme coins and AI-powered chatbots. If I'm honest, I'd be more afraid if it were both meme currencies and AI-powered chatbots It wasn't volatile.
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