{"id":209,"date":"2024-12-31T12:43:13","date_gmt":"2024-12-31T12:43:13","guid":{"rendered":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/2024\/12\/31\/bitcoin-rally-fueled-by-trump-loses-steam-as-year-draws-to-close-yahoo-finance\/"},"modified":"2024-12-31T12:43:13","modified_gmt":"2024-12-31T12:43:13","slug":"bitcoin-rally-fueled-by-trump-loses-steam-as-year-draws-to-close-yahoo-finance","status":"publish","type":"post","link":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/2024\/12\/31\/bitcoin-rally-fueled-by-trump-loses-steam-as-year-draws-to-close-yahoo-finance\/","title":{"rendered":"Bitcoin Rally Fueled by Trump Loses Steam as Year Draws to Close &#8211; Yahoo Finance"},"content":{"rendered":"<div>\n<p>(Bloomberg) &#8212; The Bitcoin rally sparked by US President-elect Donald Trump\u2019s election victory in early November is stalling as 2024 draws to a close.<\/p>\n<p>Most Read from Bloomberg<\/p>\n<ul>\n<li>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-27\/us-homelessness-hit-record-high-in-2024-according-to-white-house-count?utm_campaign=bn&#038;utm_medium=distro&#038;utm_source=yahooUS\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Migrant Crisis Pushed US Homelessness to Record High in 2024;elm:context_link;itc:0;sec:content-canvas\">Migrant Crisis Pushed US Homelessness to Record High in 2024<\/a><\/p>\n<\/li>\n<\/ul>\n<p>The digital asset wavered at $93,922 as of 6:30 a.m. on Tuesday in New York, about $15,000 below the record high set in mid-December. Smaller tokens like Ether and meme-crowd favorite Dogecoin also struggled for traction.<\/p>\n<p>Trump\u2019s 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 Federal Reserve have cooled the speculative frenzy.<\/p>\n<p>More clarity on the US crypto regime is likely to emerge after Trump assumes power on Jan. 20. The Republican\u2019s stance contrasts with President Joe Biden\u2019s administration, which cracked down on the scandal-prone sector.<\/p>\n<p>Chris Weston, head of research at Pepperstone Group, said \u201cthe momentum has come out of the post-election move\u201d in Bitcoin, partly due to outflows from exchange-traded funds for the token. The group of a dozen ETFs in the US have seen a net outflow of nearly $1.8 billion since Dec. 19, according to data compiled by Bloomberg.<\/p>\n<p>Meanwhile, software maker turned Bitcoin accumulator MicroStrategy Inc. has been on a buying spree in the past few weeks. Traders are waiting to see if the company \u2014 which owns more than $40 billion of the digital asset \u2014 will continue a pattern of announcing Bitcoin purchases on Mondays.<\/p>\n<p>The original cryptocurrency has climbed roughly 120% this year, outstripping traditional investments such as global stocks and gold. Bitcoin also more than doubled in 2023 in a comeback from a deep bear market.<\/p>\n<p>(Updates price)<\/p>\n<p>Most Read from Bloomberg Businessweek<\/p>\n<ul>\n<li>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-24\/podcast-the-year-of-elon-how-elon-musk-took-over-america?utm_campaign=bw&#038;utm_medium=distro&#038;utm_source=yahooUS\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:How Elon Musk Took Over America;elm:context_link;itc:0;sec:content-canvas\">How Elon Musk Took Over America<\/a><\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/features\/2024-12-20\/oregon-ducks-football-phil-knight-nil-donations-built-championship-contender?utm_campaign=bw&#038;utm_medium=distro&#038;utm_source=yahooUS\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Phil Knight Is Using His Nike Fortune to Make Oregon a Football Powerhouse;elm:context_link;itc:0;sec:content-canvas\">Phil Knight Is Using His Nike Fortune to Make Oregon a Football Powerhouse<\/a><\/p>\n<\/li>\n<li>\n<p><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-23\/bluesky-can-be-a-solid-social-media-site-for-sports-lovers?utm_campaign=bw&#038;utm_medium=distro&#038;utm_source=yahooUS\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Two Things Bluesky Needs to Become the Ultimate Sports Companion;elm:context_link;itc:0;sec:content-canvas\">Two Things Bluesky Needs to Become the Ultimate Sports Companion<\/a><\/p>\n<\/li>\n<\/ul>\n<p>\u00a92024 Bloomberg L.P.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; The Bitcoin rally sparked by US President-elect Donald Trump\u2019s election victory in early November is stalling as 2024 draws to a close. Most Read from Bloomberg Migrant Crisis Pushed US Homelessness to Record High in 2024 The digital asset wavered at $93,922 as of 6:30 a.m. on Tuesday in New York, about $15,000 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/posts\/209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/comments?post=209"}],"version-history":[{"count":0,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/posts\/209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/media\/210"}],"wp:attachment":[{"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/media?parent=209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/categories?post=209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpinitiate.com\/echo-test\/demo973e36f5\/wp-json\/wp\/v2\/tags?post=209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}