Bitcoin at $92,000, Ending December Down 5%
Cryptocurrencies are facing losses of up to 6.4% on Monday, ahead of the New Year’s trading session, as the global strength of the U.S. dollar continues to pressure risk assets.
Bitcoin’s price dropped below $92,000, driven by the dollar’s resilience and concerns surrounding the upcoming inauguration of Donald Trump as U.S. President in late January.
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Additionally, diminished expectations for Federal Reserve interest rate cuts have contributed to the recent decline in Bitcoin and other cryptocurrencies, which saw prices drop over the past month.
The traditional “Santa Claus rally,” typically seen in December, failed to materialize as BTC/USD recorded a 5% loss for the month. The cryptocurrency remains far below its all-time high of approximately $108,000, reached on December 17.
Ethereum has also slipped 1.75%, trading at $3,300, while altcoins are experiencing declines led by Cardano (-6.4%), Hedera (-6.1%), Polkadot (-5.7%), and Stellar (-5.6%).
Bitcoin Outlook and Projections
Market analysts predict “unprecedented volatility” and significant price movements in the coming weeks, which could reshape future expectations. Increased trading volumes reflect heightened market anticipation for profit-taking and risk hedging, suggesting a potential shift in trends.
This period may mark the beginning of a new era for the cryptocurrency market—one characterized by greater flexibility and innovation. Investors with clear and well-defined strategies are expected to seize the best opportunities in this evolving landscape.
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