Bloomberg: Cryptocurrency market may fall during Spring Festival due to slowing demand

According to a Bloomberg article, it is predicted that during the Chinese New Year, the trading volume and volatility of the entire cryptocurrency market will decline. Most technical indicators also show a sell signal, and the crypto market may usher in a decline. Bloomberg cited cryptocurrency exchange BitMex CEO Arthur Hayes's New Year's greetings and predictions on Twitter, which Arthur Hayes said is currently "at a time when volatility and trading volume have fallen significantly" in the crypto market. At the same time, OANDA market analyst Ed Moya said that due to the uncertainty of regulatory review is expected to increase, investors are increasingly skeptical of the short-term prospects of risk assets, so Bitcoin and the entire cryptocurrency sector are under pressure.