Bitcoin's Momentum Expected To Continue Amid Positive Market Factors

According to Foresight News, Matrixport has indicated that Bitcoin's strong momentum is anticipated to persist until December, driven by rising prices and increased media attention, which are likely to attract new investors. Optimism is also building around the inauguration of Donald Trump on January 20, 2025, which could usher in a more favorable regulatory environment for cryptocurrencies, including the appointment of a new SEC chairman. Additionally, expectations surrounding FTX's upcoming announcement to return $16.5 billion to creditors may further support market sentiment, creating a favorable backdrop for sustained bullish sentiment and Bitcoin price stability. Historically, when Bitcoin's Relative Strength Index (RSI) reaches overbought levels or its 30-day rolling return exceeds +40%, its price tends to consolidate as momentum cools. While "Matrix on Target" does not adopt a pessimistic stance, a brief consolidation phase may occur given the recent overbought conditions. However, numerous positive factors are gradually emerging.