Bitcoin drops to $93,869 due to strong dollar and post-election boost fading

From Investing.com

December 30, 2024 05:23 AM:

Bitcoin continued to slide, dropping 1.6% to $93,869.0 after hitting a high of over $108,000. Despite being up 120% for the year, the cryptocurrency faces pressure from a strong dollar and rate jitters.

The recent decline in Bitcoin follows a post-election boost, with trading now between $92,000 and $100,000. Dollar strength and expectations of Trump’s economic policies have made traditional assets more appealing.

Other cryptocurrencies are also down, with XRP leading the decline by nearly 5%. Ethereum is up 0.4%, while Solana, Polygon, and Shiba Inu are all trading lower. Dogecoin dropped 1.7%.

Read more at Investing.com: drops below $94k on strong dollar, fading post-election boost By Investing.com