Bitcoin’s price has steadied at $95,469.5 following a significant decline at the year’s end, driven by regulatory concerns under incoming President Trump and broader economic conditions. Despite this stabilization, the cryptocurrency dipped below $100,000 due to profit-taking. Meanwhile, altcoins have seen a rebound, indicating a potential recovery in the broader cryptocurrency market.

On Thursday, Bitcoin prices stabilized at $95,469.5 after experiencing a sharp decline in the final week of 2024. The recent downturn is attributed to traders’ concerns regarding the regulatory climate for cryptocurrencies under the new administration of President Donald Trump, coupled with broader profit-taking trends observed on Wall Street. After surging over 100% for the year, hitting a pinnacle of over $108,000 earlier in December, Bitcoin’s valuation succumbed to profit-taking pressures as traders sought to secure gains amidst uncertainty surrounding Trump’s policy promises regarding crypto regulations. While Bitcoin had dipped below the critical $100,000 threshold, other cryptocurrencies also began to rebound from recent losses. Ethereum increased by 2.1%, and XRP noted a significant 13.7% rise.

Bitcoin’s recent market activity reflects a volatile post-election environment, influenced by anticipated changes in regulatory policies under President Trump’s incoming administration. Despite previous assurances of promoting a favorable regulatory framework for cryptocurrencies, skepticism remains among investors about the sustainability and clarity of such proposals. Additionally, the impact of macroeconomic indicators, such as interest rate adjustments forecasted by the Federal Reserve in 2025, adds another layer of complexity to the cryptocurrency landscape.

In conclusion, Bitcoin’s current price stabilization amid regulatory uncertainty and profit-taking reflects a broader trend affecting the cryptocurrency market. As traders react to macroeconomic conditions and political promises from the incoming administration, the cryptocurrency’s future remains contingent on regulatory clarity and economic factors. Investors will continue to monitor these developments as they impact market sentiment and prices.

Original Source: uk.investing.com

Related posts:

Bitcoin Price Stabilizes at $95k Following Regulatory Concerns Under Trump Bitcoin Surpasses $101,000 as Inflation Data Boosts Rate Cut Expectations Gold Prices Hit Four-Week Low Amid Political Shifts and Economic Reactions Gold Plummets to 4-Week Low as US Dollar Surges Post-Trump Election