This Week in Bitcoin: BTC Plunges as US Gets Go-Ahead to Sell Silk Road Billions

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Decrypt 3 weeks ago 116

It was all going so well.

Bitcoiners were feeling the euphoria Monday when the biggest digital coin was trading above $100,000 per coin for the first time so far in 2025, at one point touching a high of $102,290, according to CoinGecko. 

But then America’s central bank had to do what it always does: remind markets that it still runs the show. The Federal Reserve on Wednesday released its December meeting minutes, showing that its members were likely to pause on cutting interest rates in 2025 over concerns about sticky inflation brought about by the incoming Trump administration. 

More bad news came on Friday, when jobs data coming out of the world’s biggest economy showed that unemployment was low, which economists generally agree means more inflation. The asset dropped as low as $91,914 on Friday. 

It has since recovered somewhat, and is now priced at $94,400 per coin. Over a seven-day period, it has dropped nearly by 4%. It’s now significantly below its December 18 all-ti...



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