Bitcoin Tops Record Before Sliding Back Ahead of Fed Rate Meeting

MT Newswires Live

Dec 16, 2024

Bitcoin (BTC) topped $106,000 in early Asian markets on Monday as the likelihood increased of a US Federal Reserve rate cut later this week.

The world's most popular cryptocurrency fell back to $104,901 from about $106,449 ahead of the European markets open of the last full week of equities trading for the year.

The odds that the Federal Open Market Committee will cut interest rates by 25 basis points at its Dec. 19 meeting reached 97.1% on Monday, up from 86% a week earlier, according to the CME FedWatch tool.

On Friday, Nasdaq announced that MicroStrategy (MSTR) would be added to the Nasdaq-100 index ahead of trading on Dec. 23. The company is the largest corporate holder of bitcoin and considered by some investors as a proxy for the cryptocurrency.

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The company is the largest corporate holder of bitcoin and considered by some investors as a proxy for the cryptocurrency.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSTR","symbol_name":"Strategy","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2491657865","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491657865","pubTimestamp":1734341040,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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