Bitcoin's price fell to its lowest in nearly a month, struggling to maintain momentum for a Santa Claus rally as investors reacted to a hawkish Federal Reserve. The leading cryptocurrency dropped 13% over the past week following the Fed's decision to lower interest rates just once, signaling fewer cuts in 2024 than previously expected. With inflation still above the Fed's target, market sentiment turned negative, leading to significant losses in major cryptocurrencies like Ethereum and Binance Coin. Typically, a Santa Claus rally appears in the last days of December, but trading activity is likely to decrease as the holiday approaches. However, analysts suggest that despite the ongoing bearish trend, there remains potential for a rebound in the new year.

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