Bitcoin price falls below $100,000 due to Fed's hawkish stance

From Investing.com

December 23, 2024 01:32:14 AM:

Bitcoin dipped 0.7% to $95,445.4 as Fed’s hawkish comments weighed on the market, breaking the $100,000 mark. Trump lauded the market’s record high before the decline. Profit-taking also contributed to the fall after reaching $108,244.9, marking the first weekly drop since Trump’s election.

Fed’s shift to only two rate cuts prompted a reassessment of speculative assets like Bitcoin, leading to its decline. Trump nominated Michael Kratsios to lead the Office of Science and Technology Policy. Lynne Parker and Bo Hines will head other key positions in the new administration.

Crypto market remains subdued as altcoins mirror Bitcoin’s decline. Ethereum fell to $3,303.66, while Binance Coin dropped to $2.1896. Some tokens like Dogecoin and Solana saw slight gains, while meme token Shiba Inu rose 1.3%.

Read more at Investing.com: falls to $95k as Fed’s hawkish tilt weighs By Investing.com