IS THIS HOW THE GRINCH STOLE CRYPTO CHRISTMAS AFTER $BTC HITS ITS ALL-TIME HIGH OF $108K?
The crypto market, once riding high on optimism just days ago, has entered the holiday season in a slump. #bitcoin
, which reached its all-time high of $108,364 on December 17, 2024, is now trading at $94,416 as of 1:15 p.m. UTC on December 24. The total cryptocurrency market capitalization followed a similar trajectory, reaching an all-time high of $3.71 trillion on December 17 before falling to $3.24 trillion—a fall of 12.4% for both in than a week. This downturn, coupled with dashed hopes for a traditional Santa Claus rally, has left hundreds of millions of crypto investors around the world wondering: what went wrong?
The festive cheer surrounding the market wasn’t unwarranted. Bitcoin’s meteoric rise to its all-time high came as markets anticipated a pro-crypto Trump administration set to take power on January 20, 2025. Additionally, the departure of the anti-crypto SEC Chair, Gary Gensler, on the same day was seen as a boon for the digital asset industry. Many investors expected these developments to spark sustained momentum across the crypto market. However, the Federal Reserve’s December 18 policy announcement threw cold water on this optimism, serving as a “Grinch” that stole the crypto market’s holiday rally.
what are your thoughts concerning BTC ???
#MerryChristmas to y'all and especially my followers ...
