Bitcoin's Post-Election Surge Stalls Amid Market Shifts

According to Odaily, as 2024 draws to a close, the surge in Bitcoin prices following the early November victory of U.S. President-elect Trump has begun to stall. Since reaching a record high in mid-December, Bitcoin has fallen by approximately $15,000. Chris Weston, Head of Research at Pepperstone Group, noted that Bitcoin's momentum has diverged from its post-election trajectory, partly due to outflows from ETFs. Meanwhile, software company MicroStrategy has been making significant Bitcoin purchases in recent weeks. Traders are closely watching to see if the company will announce further acquisitions on Monday. This year, Bitcoin has risen by about 120%, outperforming traditional investments like global stocks and gold. In 2023, Bitcoin more than doubled, recovering from a bear market. Recently, Michael Saylor has released Bitcoin Tracker information for the eighth consecutive week, potentially indicating another increase in BTC holdings.