Dec 31 2024: Bitcoin continued its decline on Tuesday amid subdued year-end trading, reaching $92,733.4 by 01:11 ET (06:11 GMT), down 1.2%. The cryptocurrency hit a one-month low of $91,522 on Monday before recovering slightly as buyers took advantage of the dip.
This marks the second consecutive weekly decline for Bitcoin, which has fallen in five of the past six sessions. The token is on track to lose nearly 4% in December, marking its first monthly drop since August.
The decline follows a sharp rally in November, during which Bitcoin surged almost 40% after Donald Trump’s presidential election victory, reaching an all-time high of $108,244.9. However, profit-taking and concerns over the Federal Reserve’s revised rate cut projections for 2025—reduced from four to two—have since weighed on the cryptocurrency.
The crypto market as a whole mirrored Bitcoin’s weakness, with major altcoins like Ether, XRP, Solana, and Dogecoin also posting declines, reflecting the risk-averse sentiment prevailing in speculative asset markets.
