After more than 2 weeks of strong growth and helping bitcoin create a new ATH of $93k, bitcoin is having correction days but luckily bitcoin is still trading above $89,000. But I'm not sure we can maintain this growth momentum until Trump officially becomes president.
I just read a news story that the Biden administration is trying to create further tension between Ukraine and Russia by agreeing to give Ukraine the right to use long-range missiles to attack Russian territory. This was immediately condemned by Trump's allies, but I don't think the Trump administration can stop it because he hasn't officially become president yet. To me, this is not just bad news but very bad news that they want the war to get worse just to put pressure on the new administration that is about to take office.
I am concerned that if this news is true and Ukraine is determined to attack deep into Russian territory, this will cause great chaos in the world and once again the market will be shaken and the bull season will be delayed.
https://www.reuters.com/world/biden-lifts-ban-ukraine-using-us-arms-strike-inside-russia-2024-11-17/If the ongoing conflict between Ukraine and Russia escalates, it will become a deeper cause of not only political but also economic instability. And this kind of global chaos has a negative impact on Bitcoin.
Usually because of this kind of global political strife, every investor keeps their wealth in a safe asset (such as gold). because, during global political strife, the global financial situation worsens, as a result the crypto market usually goes down. So at that time everyone put their money in a safe asset.
Now that the Biden administration has given Ukraine the right to use long-range missiles, and Trump isn't even officially president yet. So if the war between Ukraine and Russia really starts again now, the global financial situation will continue to deteriorate and cause great chaos in the world. As a result, crypto markets will continue to be dumped, and Bitcoin's bull season will be delayed.
Such political pressure will certainly be difficult for the Trump administration to deal with right now. Because he has not yet taken responsibility. Now let's see what happens in the end.