As 2024 draws to a close, the Bitcoin rally sparked by U.S. President-elect Trump's victory in early November is stalling. Bitcoin has fallen about $15,000 since hitting a record in mid-December.
Chris Weston, head of research at Pepperstone Group, said Bitcoin's "momentum is out of the post-election trend," partly due to ETF outflows.
Meanwhile, software maker MicroStrategy has been buying Bitcoin heavily in the past few weeks. Traders are waiting to see whether the company will continue to announce an increase in Bitcoin holdings on Monday.
This year, Bitcoin has risen by about 120%, with returns exceeding traditional investments such as global stocks and gold. Bitcoin has also more than doubled in 2023, recovering from a bear market. (Bloomberg)
Yesterday's news, Michael Saylor released Bitcoin Tracker information for the eighth consecutive week, or hinted at another increase in BTC holdings.