{"id":109878,"date":"2024-12-26T13:59:11","date_gmt":"2024-12-26T09:59:11","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=109878"},"modified":"2024-12-26T13:59:13","modified_gmt":"2024-12-26T09:59:13","slug":"bitcoin-struggles-to-maintain-momentum-amid-macroeconomic-pressures-and-hawkish-fed-outlook","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-struggles-to-maintain-momentum-amid-macroeconomic-pressures-and-hawkish-fed-outlook\/12\/26\/market-updates\/","title":{"rendered":"Bitcoin Struggles to Maintain Momentum Amid Macroeconomic Pressures and Hawkish Fed Outlook"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Market Performance<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bitcoin (BTC)<\/strong>: Down <strong>0.1%<\/strong> to <strong>$98,124.6<\/strong> as of 01:35 ET (06:35 GMT), trading in a tight range after two consecutive sessions of gains.<\/li>\n\n\n\n<li>Other major cryptocurrencies also retreated, reflecting subdued investor sentiment following the Federal Reserve&#8217;s recent hawkish shift.<\/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>Key Factors Impacting Bitcoin and Cryptocurrencies<\/strong><\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Macroeconomic Pressures<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Bitcoin&#8217;s struggles stem from the Federal Reserve&#8217;s recent decision to lower rates by <strong>25 basis points<\/strong> but signal a <strong>slower pace of future rate cuts<\/strong>, with only <strong>two cuts<\/strong> projected in 2025 compared to the previously expected four.<\/li>\n\n\n\n<li>The Fed&#8217;s cautious outlook has weighed on speculative assets like Bitcoin, as higher rates increase the opportunity cost of holding non-yielding assets.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Profit-Taking and Resistance Levels<\/strong>:\n<ul class=\"wp-block-list\">\n<li>Bitcoin&#8217;s rally to an all-time high of <strong>$108,244.9<\/strong> in early November, driven by post-election optimism, has been tempered by profit-taking and concerns about macroeconomic headwinds.<\/li>\n\n\n\n<li>The token has struggled to recover after breaking below the psychologically significant <strong>$100,000<\/strong> level last week.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Geopolitical and Regulatory Developments<\/strong>:\n<ul class=\"wp-block-list\">\n<li>In Russia, <strong>cryptocurrencies like Bitcoin are being utilized for international trade<\/strong>, following legislative changes to bypass Western sanctions.<\/li>\n\n\n\n<li>Finance Minister Anton Siluanov noted that the legalization of cryptocurrencies for foreign trade and the regulation of crypto mining are key strategies for navigating economic restrictions.<\/li>\n\n\n\n<li>Russia, as a global leader in Bitcoin mining, is leveraging its position amid ongoing sanctions, particularly in transactions with key partners such as China and Turkey.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Altcoin Performance<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Ether (ETH)<\/strong>: Dropped <strong>1.3%<\/strong> to <strong>$3,443.05<\/strong>. Despite gains in the last three sessions, it remains below levels seen before last week&#8217;s Fed-induced slump.<\/li>\n\n\n\n<li><strong>XRP<\/strong>: Fell <strong>2%<\/strong> to <strong>$2.2462<\/strong>.<\/li>\n\n\n\n<li><strong>Solana (SOL)<\/strong>: Declined <strong>2.2%<\/strong>, while <strong>Polygon (MATIC)<\/strong> dropped <strong>4.6%<\/strong>, and <strong>Cardano (ADA)<\/strong> was down <strong>3.3%<\/strong>.<\/li>\n\n\n\n<li><strong>Dogecoin (DOGE)<\/strong>: Lost <strong>2%<\/strong>, reflecting weakened demand for speculative and meme tokens.<\/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>Outlook<\/strong><\/h3>\n\n\n\n<p>The near-term trajectory for Bitcoin and the broader cryptocurrency market remains tied to macroeconomic conditions. The Federal Reserve&#8217;s slower rate-cutting path has tempered speculative appetite, while geopolitical developments, such as Russia&#8217;s adoption of Bitcoin for trade, add complexity to the landscape.<\/p>\n\n\n\n<p>Investors will likely remain cautious, keeping an eye on key macroeconomic indicators and regulatory developments that could shape demand for cryptocurrencies in the coming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance Bitcoin (BTC): Down 0.1% to $98,124.6 as of 01:35 ET (06:35 GMT), trading in a tight range after two consecutive sessions of gains. Other major cryptocurrencies also retreated, reflecting subdued investor sentiment following the Federal Reserve&#8217;s recent hawkish shift. Key Factors Impacting Bitcoin and Cryptocurrencies Macroeconomic Pressures: Bitcoin&#8217;s struggles stem from the Federal &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-109878","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\/109878","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=109878"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109878\/revisions"}],"predecessor-version":[{"id":109880,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/109878\/revisions\/109880"}],"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=109878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=109878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=109878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}