10X Research: Expected to start the year well, followed by a slight pullback ahead of the release of CPI data on January 15

In its market analysis, 10x Research notes that while some initial enthusiasm is expected at the start of the new year, this is not the time to experience bullish sentiment similar to those seen in late January-March or late September-mid-December 2024. Expect a good start to the year, followed by a slight pullback ahead of the release of CPI data on January 15. Favorable inflation data could reignite optimism, fueling a rally ahead of Trump's inauguration on January 20. However, that momentum could wane, and the market could pull back somewhat ahead of the FOMC meeting on January 29.
From January to mid-November 2024, Bitcoin's dominance rose from 50% to 60%, creating significant headwinds to the performance of counterfeit products. Although the dominance indicator briefly dipped to 53% in three weeks (raising hopes for a counterfeit products season), it quickly rebounded to nearly 58% before stabilizing at around 55%. This consolidation underscores Bitcoin's enduring dominance as the main driver of the crypto market, while also foreshadowing a possible challenge for counterfeit products, unless the Bitcoin dominance indicator falls again.