After the Bitcoin price registered an all-time high above US $106,000, it has slipped to around US $101,000 on the U.S. Federal Reserve’s hawkish tone during a recent press conference. Despite the third consecutive easing move to cut rates to the 4.25-4.50% range, Jerome Powell is projecting a slower path of further rate cuts to reflect hotter inflation readings in previous months and higher inflation expectations for the next year. On December 16, US spot and derivative Bitcoin ETFs collectively broke $129 billion in net assets, surpassing gold ETFs for the first time.
