Bitcoin drops 10% from record high amid profit-taking and Fed shift

Bitcoin has dropped over 10% from its record $108,000 peak earlier this week, trading at $97,343 today. The slide, attributed to year-end profit-taking and reduced expectations for Fed rate cuts in 2025.. Experts caution short-term volatility but note such corrections are common in bull markets. Despite the downturn, Bitcoin remains up nearly 50% since the US presidential election.

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By Monique Mulima

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