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The biggest variable in the market these days is actually the Bank of Japan's interest rate hike on December 19th.
According to Polymarket's odds, a 25 basis point rate hike is almost a sure thing. But to be honest, even if the Bank of Japan's rate hike actually happens, the crypto market is unlikely to see a very crazy rally; at most, it would be a reaction to the news and some emotional sell-off.
Looking solely at BTC's candlestick chart, BTC has already shown a sideways pattern for two consecutive weeks, and ETH is similar. Even Leverage Capital posted a tweet saying "It's over," indicating they probably suffered huge losses. But those small gains in their pockets shouldn't make these KOLs feel sorry; it just shows that the current market is very tough to navigate.
In such a market, survival is more important than proving oneself.
#BTC