FalconX, a major cryptocurrency broker, research director David Lawant wrote in a report that price fluctuations in Bitcoin are still “the most likely scenario” before a “bullish trajectory” appears in the first quarter of 2025. Lawant said, “As we enter the last few days of this year, low liquidity environments may bring more volatility, especially as BTC may have its largest options expiration event in history on December 27th.”