🔻 Bitcoin Returns to $95K as Christmas Rally Snuffed Out
Bitcoin's price experienced a significant drop following a brief Christmas rally, initially peaking just above $99,800 before falling to around $95,300. The broader cryptocurrency market also faced losses, with the CoinDesk 20 Index decreasing by 4.2%.
This market downturn coincided with rising long-term interest rates, which some analysts believe could hinder Bitcoin's price momentum. The 10-year Treasury yield reached 4.63%, marking a notable increase since the Federal Reserve's rate cuts in September. Despite the recent decline, Bitcoin has more than doubled in value year-to-date, highlighting its volatility, especially in a low-volume trading environment.
