After retreating below $50,000 during the weekend, bitcoin was hovering a little under $51,000 at the time of publication. Muyaoshen and JPRubin23 report
, the No. 1 cryptocurrency by market capitalization, retreated to below $50,000, after a “Santa rally” sent it above $51,000 Friday. At the time of publication, bitcoin had regained ground and was hovering around $50,800.
Hello, Market Wrap readers! During the final two weeks of 2021, we’re using this space to recap the year’s most dramatic moments in cryptocurrency markets – and highlight the key lessons from this fast-evolving corner of global finance. Over a series of eight posts starting on Dec. 20 and running through Dec. 30, we’ll recap what shook crypto markets this year.
Some analysts pointed to a stronger U.S. dollar as a potential headwind for bitcoin . Warmer weather was coming in the Northern Hemisphere, and more coronavirus vaccines were getting distributed around the world, leading to a sunnier economic outlook. It appeared as though the U.S. was on its way to improving the budget deficit, which widened during the pandemic stimulus program.
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