Analyst: Trump's January 20th Inauguration Ceremony Could Serve as a Bitcoin Bottom Signal

BlockBeats News, December 30th, CoinDesk analyst James Van Straten wrote that U.S. Treasury Secretary Janet Yellen wrote to congressional leaders stating that the Treasury Department expects the U.S. to hit the debt ceiling as early as January 14th to 23rd, 2025, and may need to take "extraordinary measures" to avoid a federal government default.

Raising the debt ceiling has historically been a negative signal for Bitcoin, with Bitcoin experiencing a decline or underperformance in the following days in the past five instances of such occurrences.

Since the cycle low in November 2022, Bitcoin has followed a similar trajectory to the first two cycles.

The cycles from 2018 to 2022 and from 2015 to 2018 both experienced significant pullbacks at this point in the respective cycle. Trump's presidential inauguration on January 20th could serve as a bottom signal for Bitcoin.