Bitcoin stays at $98k after two days of gains, struggles amid cautious investors following Fed news

From Investing.com

December 26, 2024 01:54:45 AM:

Bitcoin struggled to find direction after two days of gains, sitting at $98,124.6 amid caution from investors following the Fed’s hawkish shift. The token fell below $100,000 as the Fed signaled fewer rate cuts, causing a decline in speculative assets like cryptocurrencies.

Russian companies are turning to Bitcoin for international payments to navigate Western sanctions. With local banks wary of Russia-related transactions, the country legalized cryptocurrency use in foreign trade to ease trade challenges with key partners like China and Turkey.

Altcoins dipped on Thursday as demand for speculative assets remained low post-Fed news. Ether fell 1.3% to $3,443.05, struggling to recover from last week’s slump. Other cryptocurrencies like  and  also saw declines, with meme token  losing 2%.

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