Bitcoin declines ahead of Federal Reserve meeting

Bitcoin dropped 2.10 per cent to $103,916.07 by 8:32 AM GMT on Wednesday, December 17, 2024, as investors exercised caution ahead of the Federal Reserve’s final policy meeting of the year.

The decline came after a surge to $106,140.14 the previous day, fuelled by President-elect Donald Trump’s announcement of plans to create a US bitcoin strategic reserve, similar to the nation’s strategic oil reserve, which had sparked excitement among cryptocurrency enthusiasts.

Attribution: Amwal Al Ghad English, MarketScreener

Subediting: M. S. Salama