Bitcoin prices reached new all-time highs during the week ending on December 20th, driven by various factors including expectations of Federal Reserve rate cuts and strong market sentiment. The surge was supported by reduced bitcoin supply on exchanges, indicating investors moving their BTC into personal custody. However, the all-time high was short-lived as the Federal Reserve announced smaller-than-expected rate cuts, leading to a sell-off and liquidations in the derivatives market. Experts believe that despite the price dip, bitcoin remains appealing due to its transparent and code-based policies, in contrast to the opaque and confusing process of human consensus in traditional monetary and fiscal decisions. Going forward, bitcoin is expected to appreciate and may have room to further grow as it is not tied to the limited trading hours of fiat markets.



Other News from Today