16.12.202502:33:38UTC+00Bitcoin Extends Decline

Bitcoin has declined to approximately $85,000, nearing its lowest point in eight months, as broader macroeconomic challenges continue to impact the leading cryptocurrency. The digital asset has dropped over 30% from the record highs achieved in October. Analysts are attributing this downturn to increasing uncertainty surrounding the U.S. Federal Reserve's policy direction for the next year, coupled with growing apprehensions about the sustainability of the artificial intelligence sector, which has sparked a sell-off across risk assets. Sentiment was further dampened by reduced expectations of dovish candidate Kevin Hassett succeeding Fed Chair Jerome Powell, following reports suggesting President Donald Trump's advisors are leaning towards candidates seen as more independent. Market dynamics intensified the decline as leveraged long positions were compelled to liquidate, thereby heightening the downward pressure on Bitcoin.