Bitcoin set to finish an outstanding year steep in the red

Bitcoin is sliding into the year’s final days like a boxer on the ropes. After punching through records and shaking up financial markets, the apex crypto is now bleeding value. As of press time, Bitcoin was trading at $95,260, down 4% in 24 hours. After an incredible year, BTC looks dead set on finishing in the red. This is a sharp fall from its record high of $108,316 on December 17, a brutal December and its first monthly decline in four months. Even President-elect Donald Trump’s crypto enthusiasm hasn’t been enough to hold the line. Meanwhile, Bitcoin’s smaller siblings, Ether and Dogecoin, are also struggling. Options expiry adds chaos to the mix Friday isn’t just the end of a bad trading week, it’s also one of the most important days in Bitcoin’s history. A massive number of Bitcoin and Ether options contracts are set to expire, creating the perfect storm for price swings. FalconX, a top crypto brokerage, called it “one of the largest options expirations ever.” They added that: “Liquidity trends indicate that the chop around $100k could persist. While sentiment has turned more cautious, we still think a choppy price action near-term preparing the ground for a bullish trajectory into Q1 2025 remains the most likely scenario.” Meanwhile, as Bitcoin stumbles, gold has been chilling. The precious metal was trading at $2,633 an ounce at press time, holding steady after some wild moves earlier this year. Mixed jobless claims data from the U.S. have done little to change market sentiment. Recurring claims hit a three-year high, showing people are struggling to find jobs. But new claims dipped slightly, leaving the Federal Reserve with more questions than answers. Fed Chair Jerome Powell said last week that the labor market is cooling but not crashing. The Fed has pulled back on its 2025 rate-cut expectations, choosing to wait for more signs that inflation is under control. That’s kept gold’s rally in check, even though it’s still up 28% this year thanks to central banks stocking up and investors seeking a haven. For now, gold has clearly overpowered Bitcoin completely. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.