Today is December 22, 2024. If the previous Bitcoin trend resembled a roller coaster, this week's trend can be described as bungee jumping. On the 17th, Bitcoin briefly reached a historical high of 108,000, but quickly began to plunge after Fed Chair Powell's extremely hawkish speech following the Federal Reserve's interest rate meeting. On Friday, it fell to a low of 92,200, then bounced back up, with a peak rebound close to the 100,000 mark during Saturday's low liquidity, before starting to retreat and oscillate between 97,000 and 98,000. To summarize Powell's remarks at the Federal Reserve's interest rate meeting that had such a destructive impact: First, when the rate cut was first announced in September this year, Powell's dot plot indicated four rate cuts for next year, which greatly encouraged the market. Both Bitcoin and the four major US stock valuations repeatedly hit new highs. However, at this interest rate meeting, Powell unexpectedly displayed a dot plot showing only two rate cuts for next year, which is significant. Even if the US economy remains strong, the market generally believed that the dot plot would change from four rate cuts to three, but this time it was changed directly to two. Coupled with the fact that before Christmas, people generally prefer to convert assets like stocks and cryptocurrencies into cash for the holidays, the Nasdaq dropped sharply by 3.6%, and there were still no signs of rebound on Thursday. The Nasdaq's fear index was higher than the pre-market crash of US stocks on August 5 after the Bank of Japan raised interest rates, approaching extreme fear. As a result, when Friday's PCE data was released, Fed's Goolsbee came to comfort the market, stating that the dot plot showing two cuts does not mean we will only cut twice; we still need to look at the data, and now I think we need to cut several more times. There’s nothing that changes as quickly as the Fed’s stance. I think the Fed is also feeling apprehensive. After all, Friday was the last triple witching day of the year, and if they didn’t come out to comfort the market with a pre-Christmas stock market halt, Powell's last year as Fed Chair would be uncertain. Besides this, a reporter asked at the press conference whether the Fed would strategically hold Bitcoin. Powell firmly replied no, which is also an important reason for Bitcoin’s decline. After all, during the last news interview, Powell compared Bitcoin to gold, but this time he said they wouldn’t hold Bitcoin as a strategic reserve. From a conspiracy theory perspective, his answer led to a sharp drop in Bitcoin and other cryptocurrencies like Ethereum. Trump's companies bought a large amount of ETH and AVAX, which cannot be ruled out as a possible way to give Trump and various institutions a bloody chip. Because, looking at the timeline, if Bitcoin and Ethereum are not accumulated now, there truly will be no time left, with only one month until Trump takes office. The market will start to speculate on this major positive news in advance, and if they do not clear leveraged long positions in time, they will not be able to obtain cheap chips. Regarding Bitcoin's market share, on the 20th, when Bitcoin dropped to 92,200, its market share briefly reached 60%. I personally believe this should be the last time Bitcoin's market share is above 60%. Historically, after Bitcoin's halving in December, it is a peak period for retail investors to enter the market. Those who have faith in Bitcoin or institutions will firmly choose Bitcoin, but retail investors without any faith in Bitcoin, who only come in to speculate, will shake their heads at a $100,000 Bitcoin. They are more likely to choose altcoins to try for a fortune. Although it is said that the altcoin season will not return, I believe that human greed will prevail, and the altcoin season will definitely start, led by ETH, which is currently undervalued, and then ETH will take a bunch of altcoins to start skyrocketing. As for Bitcoin, my view remains unchanged; December must close positively on the monthly chart. Therefore, in the last week, absolutely do not take a bearish view or fear a decline. The bull market marathon has persisted this long, just hold on a little longer; 2025 is about to arrive!