<\/p>\n\n\n\n
Bitcoin declined for a third consecutive session on Wednesday, as profit-taking from recent record highs continued. Concerns over U.S. trade and monetary policy added to the cautious market mood, pushing the cryptocurrency further away from the coveted $100,000 milestone.<\/p>\n\n\n\n
The world\u2019s largest cryptocurrency fell 1.6% to $93,131.5 by 01:16 ET (06:16 GMT), continuing its retreat after peaking near $99,000 last week.<\/p>\n\n\n\n
Bitcoin’s pullback was driven by traders locking in gains from a robust November rally that propelled it to record highs. Disappointment over the failure to breach the psychologically significant $100,000 mark also dampened sentiment.<\/p>\n\n\n\n
Adding to the bearish pressure, U.S. President-elect Donald Trump reignited fears of a global trade war by threatening tariffs on multiple trading partners. These developments weighed on broader market risk appetite, spilling over into crypto markets.<\/p>\n\n\n\n
Investors are closely monitoring U.S. economic data, including the Personal Consumption Expenditures (PCE) price index\u2014the Federal Reserve\u2019s preferred inflation gauge\u2014due later on Wednesday. The reading is expected to influence the central bank’s trajectory on interest rate cuts.<\/p>\n\n\n\n
The minutes from the Fed\u2019s November meeting, released earlier this week, revealed a split among policymakers over the pace of rate easing. While some members advocate for gradual cuts, others call for more cautious adjustments.<\/p>\n\n\n\n
The release of revised third-quarter GDP data later today will also provide insights into the U.S. economy\u2019s resilience, which could impact the Federal Reserve\u2019s decisions.<\/p>\n\n\n\n
Trump\u2019s crypto policy remains a focal point for traders. His campaign promises, including establishing the U.S. as the \u201ccrypto capital\u201d of the world and the idea of a national Bitcoin reserve, have generated optimism in the sector.<\/p>\n\n\n\n
Additionally, Trump\u2019s cabinet picks\u2014Scott Bessent for Treasury Secretary and Howard Lutnick for Commerce Secretary\u2014are viewed as crypto-friendly, offering some reassurance to market participants. However, tangible policy direction is expected only after Trump takes office on January 20.<\/p>\n\n\n\n
The decline in Bitcoin triggered a broader retreat in the crypto market, with major altcoins tracking its weakness. Ethereum, the second-largest cryptocurrency, fell 0.4% to $3,419.99.<\/p>\n\n\n\n
XRP, Solana, Cardano, and Polygon saw losses ranging from 0.9% to 5%, with XRP leading the decline. Meme coin Dogecoin also dropped 3%.<\/p>\n\n\n\n
Bitcoin remains under pressure from profit-taking and uncertainty surrounding U.S. policies. While the promise of crypto-friendly measures under Trump offers long-term optimism, short-term sentiment will likely hinge on economic data and Federal Reserve signals.<\/p>\n\n\n\n
Market participants are also awaiting stronger catalysts to reignite bullish momentum in Bitcoin, potentially reclaiming its upward trajectory. Until then, further downside corrections may persist as traders seek clarity on macroeconomic and crypto-specific developments.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin declined for a third consecutive session on Wednesday, as profit-taking from recent record highs continued. Concerns over U.S. trade and monetary policy added to the cautious market mood, pushing the cryptocurrency further away from the coveted $100,000 milestone. The world\u2019s largest cryptocurrency fell 1.6% to $93,131.5 by 01:16 ET (06:16 GMT), continuing its retreat …<\/p>\n","protected":false},"author":9,"featured_media":53219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[6904,8060],"class_list":["post-108707","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-bitcoin","tag-profit-taking"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=108707"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108707\/revisions"}],"predecessor-version":[{"id":108708,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/108707\/revisions\/108708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53219"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=108707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=108707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=108707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}