{"id":109849,"date":"2024-12-24T11:40:20","date_gmt":"2024-12-24T07:40:20","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=109849"},"modified":"2024-12-24T11:40:23","modified_gmt":"2024-12-24T07:40:23","slug":"bitcoin-extends-losses-amid-feds-hawkish-stance","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-extends-losses-amid-feds-hawkish-stance\/12\/24\/market-updates\/","title":{"rendered":"Bitcoin Extends Losses Amid Fed\u2019s Hawkish Stance"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<p>Bitcoin continued its downward trajectory on Tuesday, marking its <strong>fourth consecutive daily decline<\/strong> as the rally triggered by Donald Trump\u2019s presidential election victory faded in the face of a more hawkish Federal Reserve.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bitcoin Price<\/strong>: Fell <strong>2%<\/strong> to <strong>$94,159.4<\/strong> as of 00:22 ET (05:22 GMT), dipping below the critical <strong>$93,000 level<\/strong> on Monday.<\/li>\n\n\n\n<li><strong>Weekly Performance<\/strong>: Bitcoin has declined in six of the past seven days, pressured by profit-taking and macroeconomic concerns.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Rally Loses Steam After Fed\u2019s Rate Outlook<\/strong><\/h3>\n\n\n\n<p>After reaching an <strong>all-time high of $108,244.9<\/strong> in early November, Bitcoin has faced mounting pressure:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Federal Reserve\u2019s decision to cut rates by <strong>25 basis points<\/strong> last week, coupled with signals of <strong>just two rate cuts in 2025<\/strong>, cooled market enthusiasm.<\/li>\n\n\n\n<li>Investors adjusted their positions in speculative assets like Bitcoin, contributing to the current sell-off.<\/li>\n<\/ul>\n\n\n\n<p>This marks Bitcoin&#8217;s first <strong>weekly loss<\/strong> since Trump\u2019s election victory spurred the initial rally.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Crypto Stocks Follow Bitcoin\u2019s Decline<\/strong><\/h3>\n\n\n\n<p>The slide in Bitcoin prices has impacted crypto-related stocks:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>MicroStrategy Inc.<\/strong> (NASDAQ:MSTR): Fell nearly <strong>9%<\/strong>, compounded by the announcement of a <strong>1.3-million-stock sale<\/strong> to fund the purchase of <strong>5,262 bitcoins<\/strong>.<\/li>\n\n\n\n<li><strong>Coinbase Global Inc.<\/strong> (NASDAQ:COIN): Declined <strong>4%<\/strong>.<\/li>\n\n\n\n<li><strong>Riot Platforms Inc.<\/strong> (NASDAQ:RIOT): Ended Monday lower.<\/li>\n\n\n\n<li><strong>Marathon Digital Holdings Inc.<\/strong> (NASDAQ:MARA): Dropped <strong>3.6%<\/strong>, reflecting broader pressure on Bitcoin miners.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Altcoins Edge Higher But Remain Subdued<\/strong><\/h3>\n\n\n\n<p>While Bitcoin struggled, other cryptocurrencies showed modest gains on Monday:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Ethereum (ETH)<\/strong>: Rose <strong>3.2%<\/strong> to <strong>$3,431.48<\/strong>, recovering slightly after consecutive losses last week.<\/li>\n\n\n\n<li><strong>XRP<\/strong>: Increased <strong>3.1%<\/strong> to <strong>$2.2627<\/strong>.<\/li>\n\n\n\n<li><strong>Solana<\/strong>: Jumped <strong>3.4%<\/strong>, while <strong>Polygon<\/strong> surged <strong>5%<\/strong>.<\/li>\n\n\n\n<li><strong>Cardano<\/strong>: Gained <strong>2%<\/strong>.<\/li>\n\n\n\n<li><strong>Dogecoin<\/strong>: Rose <strong>1.8%<\/strong>, reflecting cautious optimism among meme token investors.<\/li>\n<\/ul>\n\n\n\n<p>Despite these gains, overall demand for speculative assets remains subdued as the Federal Reserve\u2019s hawkish outlook continues to weigh on investor sentiment.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Outlook<\/strong><\/h3>\n\n\n\n<p>The crypto market is likely to remain under pressure until there\u2019s more clarity on the Fed\u2019s monetary policy and its implications for speculative assets. Investors are also keeping an eye on Bitcoin\u2019s ability to hold above key psychological levels, including <strong>$92,000<\/strong>, to gauge the broader market\u2019s direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin continued its downward trajectory on Tuesday, marking its fourth consecutive daily decline as the rally triggered by Donald Trump\u2019s presidential election victory faded in the face of a more hawkish Federal Reserve. Bitcoin Price: Fell 2% to $94,159.4 as of 00:22 ET (05:22 GMT), dipping below the critical $93,000 level on Monday. Weekly Performance: &hellip;<\/p>\n","protected":false},"author":9,"featured_media":101614,"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":[],"class_list":["post-109849","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109849","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=109849"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109849\/revisions"}],"predecessor-version":[{"id":109851,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109849\/revisions\/109851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/101614"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=109849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}