Federal Reserve's Hawkish Stance Impacts Bitcoin's Post-Election Rally

According to Odaily, the Federal Reserve's unexpectedly hawkish stance last week halted Bitcoin's rally following the U.S. presidential election. Bitcoin experienced its first weekly decline since early November when Donald Trump won the election. The Federal Reserve indicated plans to cut interest rates twice next year, a shift from the previously expected four cuts. This change prompted investors to reassess their positions in speculative assets like Bitcoin, leading to a price drop. Cryptocurrency investor Scott Melker noted that this situation suggests traders are primarily focused on profit-taking rather than aggressive selling.