Bitfinex: Bitcoin Correction Will Continue During Holidays
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Bitcoin confronts the potential for a price correction over the New Year holiday, influenced by selling pressure from short-term investors, according to Jag Kooner, the head of Bitfinex’s derivatives department.
Despite testing the $44,000 mark on December 20, Bitcoin’s value dipped below $42,000 by December 26, and it currently hovers around $42,900.
Anticipating a more significant downturn, Kooner suggests it could occur if short-term holders and retail leverage maintain dominance, causing a pullback amid lower liquidity during the holiday period.
A parallel trend is observed as BTC hodlers opt to retain digital currency, moving it offline and coinciding with reduced altcoin exchange supply and weak network activity.
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