en|en|#BTC94KShowdownBitcoin fell 3.2% in first monthly drop since August

It gave 120% gains last year, investors optimistic for 2025

Bitcoin’s record-breaking run faltered toward the end of 2024, leading to its first monthly drop since August.

The digital asset fell 3.2% last month as US investors cashed profits after a rally triggered by President-elect Donald Trump’s victory pushed Bitcoin to an all-time high of $108,315 mid-December. Feverish speculation in the crypto market has cooled as expectations for interest-rate cuts from the Federal Reserve waned, eroding appetite for riskier assets.

The group of a dozen Bitcoin exchange-traded funds in the US saw a net outflow of about $1.8 billion since Dec. 19, according to data compiled by Bloomberg. Open interest — or outstanding contracts — for Bitcoin futures hosted by Chicago-based CME Group Inc., seen as a measure for US institutional interest, also fell nearly 20% from its December peak.