Analyst: Trump's inauguration on January 20 may become the bottom signal for BTC

ChainCatcher news, CoinDesk analyst James Van Straten stated that U.S. Treasury Secretary Janet Yellen sent a letter to congressional leaders indicating that the Treasury expects the U.S. to reach its debt ceiling as early as between January 14 and 23, 2025, and may need to take "extraordinary measures" to avoid a federal government debt default.

Raising the debt ceiling has historically been a negative signal for Bitcoin; in the past five such instances, Bitcoin experienced declines or poor performance in the following days.

Since the cycle low in November 2022, Bitcoin has been consistent with the trends of the previous two cycles.

The cycles from 2018-2022 and 2015-2018 both experienced significant pullbacks at this point in their respective cycles. Trump's inauguration on January 20 may serve as a bottom signal for Bitcoin.