Bitcoin price falls in December due to low trading volumes, first monthly decline since August

From Investing.com.

December 31, 2024 01:55:25 AM:

Bitcoin experienced a decline due to soft year-end trading volumes, marking its first monthly fall since August. The cryptocurrency fell to a low of $91,522 before bouncing back. A hawkish Fed outlook led to a nearly 4% loss in December, after a 40% surge in November following Trump’s election victory.

Crypto-related stocks followed Bitcoin’s downtrend, with MicroStrategy, Coinbase, Riot Platforms, and Marathon Digital Holdings all recording losses. The shift in Fed rate expectations prompted investors to reassess their positions in speculative assets like Bitcoin, contributing to the decline in prices.

Other cryptocurrencies, including Ethereum and Binance Coin, also fell in line with Bitcoin as demand for speculative assets remained subdued. Ethereum was on track to fall nearly 10% in December after a 47% surge in November, while Binance Coin and Solana also experienced declines. Among meme tokens, Shiba Inu lost 2.7%.

Read more at Investing.com: falls to $92.7k, set for first monthly fall since Aug By Investing.com