Analyst Omkar Godbole said the defensive positioning of the stock market may stem from concerns that President-elect Trump's inauguration on January 20 may become a "good thing" event. Risk-taking sentiment in financial markets has risen in the past two months due to expectations that Trump will introduce reforms that will benefit businesses and the economy after taking office, but the possibility of profit-taking cannot be ignored. Trump's inauguration on January 20 will change cryptocurrency regulations and even change the strategic reserve of Bitcoin in the coming months. These two months will lay the foundation for the next round of rebound. Singapore's QCP Capital holds a similar view. The company said that traders should pay close attention to this week's FOMC and NFP data before further positioning, which is expected to further affect Bitcoin's price trend. (CoinDesk)