Bitcoin experienced a brief decline after reaching an all-time high of $108,315, as traders anticipate a possible Federal Reserve interest rate cut and assess the impact of President-elect Donald Trump's pro-crypto stance. Trump's support for cryptocurrency and promises of favorable regulations have fueled optimism in the market.
Bitcoin took a breather after topping $108,000 for the first time as traders await an expected Federal Reserve interest-rate cut and assess a wave of optimism from President-elect Donald Trump ’s support for crypto.
The largest token touched $108,315 on Tuesday before falling back to $104,800 as of noon Wednesday in Singapore. Trump has promised friendly regulations to allow the US to dominate the crypto sector and even backed the idea of a strategic national Bitcoin reserve. MicroStrategy Inc.’s upcoming inclusion in the Nasdaq 100 Index added to the positive mood by opening up the possibility of more share-price gains for a company whose main activity is raising capital to invest in Bitcoin. another quarter-point rate cut on Wednesday but there is less clarity on the policy outlook next year due to robust US economic growth and inflation risks from Trump’s wider agenda.
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