Bitcoin loses its festive cheer on 'hawkish' US rate cut - Crypto Roundup

Proactive - Interviews for investors

Proactive's Billy Farrington takes Stephen Gunnion through Bitcoin’s eventful week and the state of the crypto markets as 2024 draws to a close Bitcoin hit a record $108,000 earlier this week, marking a 140% year-to-date gain. This milestone was influenced by positive sentiment following pro-crypto initiatives by President-elect Trump. However, Bitcoin saw an 11% reversal, settling below $96,000 as market sentiment turned after the US Federal Reserve cut interest rates by 25 basis points but indicated it may tap the brakes in cuts going forward. This hawkish approach, with reduced expectations for reductions in 2025, contributed to broader market declines. Bitcoin ETFs reached $120 billion in assets under management this week, nearly overtaking gold ETFs despite their 21-year head start. Farrington remarked that this was a remarkable achievement, though subsequent volatility widened the gap between the two. Stay tuned to Proactive’s YouTube channel for more updates, and don’t forget to like, subscribe, and enable notifications for future content. #Bitcoin #CryptoNews #FederalReserve #BitcoinETF #CryptoMarkets #BTC #ProactiveInvestors #MarketRecap #FinancialNews #2024Crypto#ProactiveInvestors#invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews