Bitcoin hits record high over $107k on hopes of strategic reserve under Trump

From Investing.com
December 17, 2024 12:58:43 AM:

Bitcoin reached record highs on Tuesday, fueled by optimism over a potential Strategic Reserve under Trump. However, doubts remain over the feasibility of such a reserve and its funding. Congress approval would be necessary for such a reserve, but bipartisan lawmakers may oppose increased deficit funding for Bitcoin purchases.

Altcoins cooled as the focus shifted to the upcoming Federal Reserve meeting. Ethereum rose 1.1% to $4,011.80, while Binance Coin climbed 3.7% to $2.4999. Other cryptocurrencies like XRP, Litecoin, and Dogecoin experienced declines, indicating a cautious market sentiment. The Fed’s decision on interest rates and future monetary policy will likely influence crypto prices in the near term.

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