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10x Research: Expected to start the year well, before falling slightly ahead of CPI data release on January 15
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2025-01-06 08:02 4,626
Golden Finance reported that 10x Research pointed out in its market analysis that although some initial enthusiasm is expected at the beginning of the new year, it is not yet the time to experience the bullish sentiment similar to that from late January to March or late September to mid-December in 2024. time. A strong start to the year is expected, followed by a slight pullback ahead of the release of CPI data on January 15. Favorable inflation data could reignite optimism and fuel a rally ahead of Trump's inauguration on Jan. 20. However, this momentum is likely to wane and the market may pull back ahead of the January 29 FOMC meeting. From January to mid-November 2024, Bitcoin’s dominance increased from 50% to 60%, creating significant headwinds for altcoin performance. Although the dominance indicator briefly fell to 53% over three weeks (sparking hopes for an altcoin season), it quickly rebounded to nearly 58% before stabilizing around 55%. This consolidation highlights Bitcoin’s enduring dominance as a major driver of the crypto market, while also signaling possible challenges for altcoins unless Bitcoin dominance indicators drop again.
Keywords: Bitcoin
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