The total capitalization dropped by more than $300 billion as Bitcoin’s price went on a complete rollercoaster. The first few days of the week started as we are more or less used to by know – up only. The market was anticipating the results of the meeting of the US Federal Result. During the meeting, the Chairman Jerome Powell said that they might consider a slowdown of rate cuts, given that the inflation in the country is rising. This propelled a market-wide sell-off across the crypto industry but also across tradfi as well.
Source: Jordan Lyanchev, 2024-12-23; https://cryptopotato.com/bitcoins-wild-ride-from-108k-to-92k-market-update/