Trump’s preference for crypto friendly regulations and support for the idea of a national Bitcoin reserve lifted digital assets. But scaled back expectations for interest-rate cuts by the US Federal Reserve (US Fed) have cooled the speculative frenzy.
The Bitcoin rally sparked by US President-elect Donald Trump’s election victory in early November is stalling as 2024 draws to a close.
The digital asset wavered at US$93,085 ($126,257) as of 5:25 am on Monday in London, about US$15,000 below the record high set in mid-December. Smaller tokens like Ether and meme-crowd favorite Dogecoin also struggled for traction.
