Bitcoin price dips after hitting record high, supply concerns rise, altcoins also fall

From Investing.com
December 18, 2024 01:32:51 AM:

Bitcoin slipped 2.4% to $103,688.0 after hitting a record high of $108,244. Trump’s mention of a Strategic Bitcoin Reserve boosted the cryptocurrency, yet doubts remain over its feasibility. Whales buying up 70,000 bitcoins this week has led to supply concerns and price surges. Altcoins also fell ahead of the Fed meeting.

Cryptocurrencies like Ethereum and Binance Coin followed Bitcoin’s decline. Ethereum dropped 4.7% to $3,839.41, while Binance Coin fell 0.3% to $2.51. Dogecoin and Solana also saw price movements. The Fed’s interest rate decision and long-term outlook on rates could impact cryptocurrency prices, especially if rates stay higher for longer.

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