{"id":202928,"date":"2024-12-27T07:15:29","date_gmt":"2024-12-27T07:15:29","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/27\/bitcoin-rally-fizzles-as-tokens-record-breaking-year-winds-down-times-of-india\/"},"modified":"2024-12-27T07:15:29","modified_gmt":"2024-12-27T07:15:29","slug":"bitcoin-rally-fizzles-as-tokens-record-breaking-year-winds-down-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/12\/27\/bitcoin-rally-fizzles-as-tokens-record-breaking-year-winds-down-times-of-india\/","title":{"rendered":"Bitcoin rally fizzles as Token\u2019s record-breaking year winds down &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/thumb\/msid-116705056,imgsize-2284294,width-400,resizemode-4\/116705056.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Bitcoin rally fizzles as Token\u2019s record-breaking year winds down &#8211; Times of India\" title=\"Bitcoin rally fizzles as Token\u2019s record-breaking year winds down &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"vdo_embedd\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>A <!-- -->Bitcoin rally<!-- --> is fizzling in the final days of a record-breaking year for the digital asset, as investors assess the remaining impetus from President-elect Donald Trump\u2019s embrace of the cryptocurrency sector.<br \/>The largest token changed hands at $96,200 as of 6 am Friday in London, partly paring a retreat of almost 3 per cent from a day earlier. Smaller rivals including Ether and Dogecoin, a favorite of the meme crowd, oscillated in tight ranges.<br \/>Trump is pushing ahead with a promise to create a crypto-friendly environment in the US and has backed the idea of establishing a national Bitcoin reserve. Traders are banking some of the profits sparked by the Republican\u2019s crypto cheerleading and are waiting to see if the mooted reserve is feasible.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Options expiry<\/span><br \/>The crypto market is also braced for the expiry of a substantial quantity of Bitcoin and Ether options contracts on Friday \u2014 one of the biggest such events in the history of digital assets, according to prime broker FalconX.<br \/>The notional value of the Bitcoin contracts on the Deribit exchange \u2014 one of the largest for digital-asset derivatives \u2014 exceeds $14 billion, while the equivalent figure for Ether is about $3.8 billion.<br \/>Sean McNulty, director of trading at liquidity provider Arbelos Markets, flagged the risk of a \u201cchoppy market\u201d amid the expiry of the derivatives positions.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">MicroStrategy plan<\/span><br \/>Bitcoin is wavering even after MicroStrategy Inc. this week signaled the possibility of expanding its program of purchases of the token. The company has transformed itself from a software maker into a Bitcoin accumulator and now owns more than $40 billion of the digital asset.<br \/>The original cryptocurrency is flirting with a drop for December, which would be its first monthly decline in four, according to data compiled by Bloomberg. Bitcoin reached a record high of $108,316 on December 17 before pulling back.<br \/>Investors withdrew a net $1.5 billion from a group of one dozen US spot-Bitcoin exchange-traded funds in the four trading days through December 24, the heaviest such outflow since Trump\u2019s victory in the US election on November 5.<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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