See also
02.01.2025 01:33 PM
By the end of 2024, Bitcoin's record-breaking rally had slowed, resulting in its first monthly decline since August. In December 2024, the digital asset dropped by 3.2% as U.S. investors cashed in profits after a rally driven by the victory of President-elect Donald Trump, which had pushed Bitcoin to a historic high of $108,315 in mid-December.
The feverish speculation in the cryptocurrency market subsided as expectations of interest rate cuts by the Federal Reserve weakened, dampening appetite for riskier assets. According to Bloomberg data, a group of U.S.-based Bitcoin exchange-traded funds saw net outflows of $1.8 billion as of December 19. Open interest—unsettled contracts—on Bitcoin futures listed on the Chicago CME Group Inc., considered a measure of U.S. institutional interest, also fell by nearly 20% from its December peak.
Nevertheless, Bitcoin still gained 120% over 2024, outperforming global equities and gold.
In a client note from QCP Capital, a digital asset trading firm, they wrote: "Despite the strong optimism surrounding crypto-friendly regulations following Trump's inauguration, we believe January will be the key month. That's when institutions adjust their asset allocations." With Bitcoin already being widely adopted by institutions—including university endowment funds added to the list this year—the inflow of investments is expected to grow, strengthening Bitcoin's dominance, stabilizing price movements, and aligning its volatility dynamics closer to equities.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
