Bitcoin price falls to $94K as investors reassess positions following Fed's hawkish outlook

From Investing.com

December 24, 2024 06:57:44 AM:

Bitcoin prices continued to decline for the fourth day in a row, dropping to $94,350.0 after hitting a record high of $108,244.9. The fall was attributed to the Federal Reserve’s hawkish outlook on rates, causing investors to reassess their positions in speculative assets like Bitcoin. This led to a decline in crypto-related stocks as well, with companies like MicroStrategy and Coinbase Global witnessing losses.

Despite Bitcoin’s decline, other cryptocurrencies like Ethereum and Cardano saw gains on Monday. The demand for speculative assets remained subdued due to the Fed’s rate outlook, but altcoins managed to recover slightly. Traders are anticipating continued volatility in Bitcoin, with a potential shift towards altcoins as a significant options expiry approaches. The expiration of almost $20 billion in BTC and ETH options could impact market conditions in the upcoming holiday week.

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