Bitcoin hit an all-time high of $108,230, driven by the anticipated 'Santa Claus rally' and a potential 0.25% rate cut by the Federal Reserve. Analysts predict further price increases, with some forecasting Bitcoin reaching $130,000 by January 2025. The upcoming FOMC meeting on December 18 is closely watched, as investors await Fed Chairman Jerome Powell's speech for further insights.
) hit an all-time high of $108,230, up 2.3% in just 24 hours. Analysts attribute this sharp rise to the possible start of the traditional Santa Claus rally, which is usually observed in financial markets in mid-December. This rally could continue in January, setting the stage for a New Year’s market rally . FOMC meeting scheduled for December 18. The CME FedWatch tool shows a 96% chance of a 0.
“Bitcoin has reached a new all-time high, fueled by a gap-up in the U.S. future indexes and increased holiday optimism. As investors anticipate a strong end-of-year market rally, all eyes are on the upcoming FOMC meeting on December 18, where a 0.25% rate cut is expected with a 96% probability. This rate cut could drive Bitcoin above $110,000 post-meeting and potentially to $120,000 by January 2025.
As the end of the year approaches, Bitcoin’s success demonstrates its growing role as a global financial asset. The combination of a favorable macroeconomic environment, evolving regulatory policies, and strong investor interest points to a possible new phase of growth for the cryptocurrency.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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