The post Analysts’ warning – Bitcoin unlikely to have ‘Santa rally’ in 2025 appeared on BitcoinEthereumNews.com. Key Takeaways Is the Santa rally cancelled?  As of writing, the market was not pricing such an outcome; however, the Fed’s rate decision will be a key catalyst. What’s next for BTC in the meantime?  Probably a choppy price action above $80k until the Fed rate decision in early December. After a brutal 30% decline, Bitcoin [BTC] has steadied above $80k amid rising odds of another 25 bps Fed rate cut.  Despite the relief, however, the ‘Santa rally’ expectation has dropped, according to Jake Ostrovskis, Head of OTC (Over the Counter) trading at market maker Wintermute.  He cited the Options market positioning and added,  “The previously consensus view of a year-end ‘Santa rally’ has been priced out of the markets. Calls continue to roll down, topside bets are being capped below all-time highs.” Source: X It meant that calls (bullish bets) from big players like Paradigm have been trimmed and targets pushed lower, underscoring that big funds weren’t expecting an explosive move into a new ATH in December.  According to him, Options traders were pricing a mild bullish outlook of a jump to $100k-$118k, but nothing like an aggressive spike to the recent peak at $126k.  BTC sentiment and momentum That said, the 25 Delta Risk Reversal (25RR), which tracks market sentiment, was negative for end-November (-4.8) and December (-4.9). This highlighted a premium for puts or hedging activity to year-end.  Source: Amberdata Put differently, there was still short-term caution despite improving odds of a Fed rate cut. For Ostrovskis, a true Bitcoin bottom could be formed if the 25RR at least drops to neutral (zero).  For November, however, the top volumes for puts (hedging) were at $80k, $82k and $88k, further cementing that despite the market still expected price to defend the $80k support.  But for December, the most… The post Analysts’ warning – Bitcoin unlikely to have ‘Santa rally’ in 2025 appeared on BitcoinEthereumNews.com. Key Takeaways Is the Santa rally cancelled?  As of writing, the market was not pricing such an outcome; however, the Fed’s rate decision will be a key catalyst. What’s next for BTC in the meantime?  Probably a choppy price action above $80k until the Fed rate decision in early December. After a brutal 30% decline, Bitcoin [BTC] has steadied above $80k amid rising odds of another 25 bps Fed rate cut.  Despite the relief, however, the ‘Santa rally’ expectation has dropped, according to Jake Ostrovskis, Head of OTC (Over the Counter) trading at market maker Wintermute.  He cited the Options market positioning and added,  “The previously consensus view of a year-end ‘Santa rally’ has been priced out of the markets. Calls continue to roll down, topside bets are being capped below all-time highs.” Source: X It meant that calls (bullish bets) from big players like Paradigm have been trimmed and targets pushed lower, underscoring that big funds weren’t expecting an explosive move into a new ATH in December.  According to him, Options traders were pricing a mild bullish outlook of a jump to $100k-$118k, but nothing like an aggressive spike to the recent peak at $126k.  BTC sentiment and momentum That said, the 25 Delta Risk Reversal (25RR), which tracks market sentiment, was negative for end-November (-4.8) and December (-4.9). This highlighted a premium for puts or hedging activity to year-end.  Source: Amberdata Put differently, there was still short-term caution despite improving odds of a Fed rate cut. For Ostrovskis, a true Bitcoin bottom could be formed if the 25RR at least drops to neutral (zero).  For November, however, the top volumes for puts (hedging) were at $80k, $82k and $88k, further cementing that despite the market still expected price to defend the $80k support.  But for December, the most…