Bitcoin Soars to Record High Above $106K, Then Retreats as Hawkish Fed Rate Cut Looms

Quick Summary:

The Fed is likely to deliver a "hawkish rate cut,” with hints of less easing next year.

A press conference by the Fed Chair Jerome Powell will occur a half hour later.

Bitcoin (BTC) surged to over $106,000 in early Asian hours, setting new all-time highs before quickly retreating to $104,500 amid concerns about the upcoming U.S.

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Article Details

Author / Journalist: Omkar Godbole

Category: Crypto

Markets: United StatesChinaCuba

Topics: Bullish Easing Expected Inflation Bitcoin Newsletter Points Coindesk Rate Cuts

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-16 @ 04:53:33 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 416 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 24426950

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