TL;DR
Bitcoin dropped below $96,000 after $3.2 billion worth of BTC was sent to exchanges, signaling potential sell-offs and increased price pressure.
Despite the dip, analysts predict a rebound, with targets ranging from $110K this year to over $320K in 2025.
Heading South Again?
Bitcoin (BTC) became the talk of the town in mid-December, reaching a new all-time price of over $108,000. However, the Federal Reserve’s latest FOMC meeting and, more specifically, Jerome Powell’s comments changed the scene in the crypto market.
While the Chairman of America’s central bank announced another rate cut of 0.25%, he hinted that concerns of rising inflation mean that they might not cut rates going forward in 2025. Powell added that the Fed is not allowed to hold BTC, casting doubt on Trump’s proposed plan to establish a strategic BTC reserve.
The disclosure occurred on December 18, with the primary cryptocurrency experiencing enhanced volatility in the following week. The price hovered b
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