Summary
Bitcoin experienced a significant rise in 2024 but has since seen a correction, potentially due to inflation, interest rate, and dollar news. After reaching a record high just below $74,000, bitcoin dropped to around $70,650 following economic data. The CoinDesk 20 Index also decreased, although Solana and Dogecoin saw gains.
Key Points
1. Bitcoin experienced a 70% rise in 2024, reaching a new record high just under $74,000.
2. Following this peak, bitcoin underwent a correction, potentially influenced by news related to inflation, interest rates, and the dollar.
3. Bitcoin’s price dropped from $73,800 to $70,650 after economic data was released, with the cryptocurrency trading at $70,900 at the time of the report, marking a decrease of over 3% in the past 24 hours.