2024 Ends with a Massive Crypto Crash and Bitcoin (BTC) Losing Its Grip

Bitcoin (BTC), still king of the crypto hill, sits at $92,700—down $15,000 from its December highs. A 120% yearly gain keeps the numbers shiny

Bitcoin (BTC) price movements have largely defied traditional market logic throughout 2024, leaving many analysts scratching their heads and traders experiencing whiplash. The year began with BTC fiyatı around $62,000, but a massive rally in the wake of the U.S. presidential election saw the leading cryptocurrency hit all-time highs of nearly $98,000 by December.

However, the الكبير ارتفاع未能持续很长时间， حيث واجهت عملة البيتكوين مقاومة عند مستويات أعلى وانعكست بشكل حاد. بحلول نهاية ديسمبر ، انخفض سعر البيتكوين بنحو 15000 دولار من أعلى مستوياته القياسية.

Trump Pro-Crypto Policies Boost Bitcoin Rally

Trump administration officials have largely expressed support for cryptocurrencies, a stark contrast to the hawkish stance taken by the Biden government. This pro-crypto narrative has been credited with boosting Bitcoin prices in 2024.

However, some analysts downplay the role of politics in the recent crypto rally, arguing that the market is primarily driven by macroeconomic factors and the launch of Bitcoin exchange-traded funds (ETFs) by major investment firms such as Blackrock.

“I don’t think Trump matters anymore. Now that Blackrock and all the other investment firms have Bitcoin ETFs, they will try to pump Bitcoin for all it’s worth. And they have a lot of power,” an anonymous crypto analyst told 99Bitcoins.

“They can easily manipulate the Bitcoin price up to $200,000 if they want to. But I don’t see the point anymore. Everyone is already rich from the past two years of crypto gains.”

Trump administration officials have largely expressed support for cryptocurrencies, a stark contrast to the hawkish stance taken by the Biden government. This pro-crypto narrative has been credited with boosting Bitcoin prices in 2024.

However, some analysts downplay the role of politics in the recent crypto rally, arguing that the market is primarily driven by macroeconomic factors and the launch of Bitcoin exchange-traded funds (ETFs) by major investment firms such as Blackrock.

“I don’t think Trump matters anymore. Now that Blackrock and all the other investment firms have Bitcoin ETFs, they will try to pump Bitcoin for all it’s worth. And they have a lot of power,” an anonymous crypto analyst told 99Bitcoins.

“They can easily manipulate the Bitcoin price up to $200,000 if they want to. But I don’t see the point anymore. Everyone is already rich from the past two years of crypto gains.”