Cryptocurrency prices have taken a hit, with Bitcoin experiencing significant volatility after the initial optimism sparked by President-elect Donald Trump’s support for the sector began to wear off. The cryptocurrency market has seen its worst drop of 2024, with an index of smaller coins plummeting 15% in one day.
Bitcoin, which had initially surged past the $100,000 mark, has since experienced sharp fluctuations, falling below $95,000 at one point on Tuesday. This decline marks a significant shift away from the optimism that Trump’s endorsement had brought to the market. As investors reassess their expectations, cryptocurrency prices continue to swing wildly in response.
Source: https://www.bloomberg.com/news/articles/2024-12-09/bitcoin-btc-wavers-smaller-tokens-sink-as-frothy-crypto-rally-frays