Bitcoin (BTC), which hit an all-time high (ATH) of $107,000 last week, faced a setback over the weekend, dropping to around $92,000 before bouncing back. Experts believe weak inflation data and Federal Reserve Chair Jerome Powell’s tough stance on crypto are behind this dip. Meanwhile, US President-elect Donald Trump has announced new cabinet positions, including a dedicated “Crypto Council.” Whether these announcements will boost Bitcoin prices remains uncertain, but some speculate BTC might climb again before Trump officially takes office.

Before diving deeper, it’s important to note that cryptocurrency markets are highly unpredictable and volatile. Predicting future price movements is nearly impossible, so investors should research thoroughly before making any decisions.

As of last Monday (December 16), the global crypto market cap was $3.69 trillion. Bitcoin was priced at around $99,500, while Ethereum (ETH) stood at about $3,900. A week later, the market cap held steady at $3.69 trillion.

### Current Crypto Market Snapshot
– **DeFi Total Volume**: $10.53 billion (7.15% of total 24-hour market volume)
– **Stablecoin Volume**: $136.47 billion (92.69% of total 24-hour market volume)
– **Market Sentiment Index**: Neutral, scoring 54 out of 100
– **BTC Dominance**: 57.29%

Over the past week, Bitcoin reached a high of $107,858.93 on December 17 and a low of $92,422.86 on December 20. Ethereum also had its ups and downs, peaking at $4,085.81 and hitting a low of $3,117.31 during the same period.

Bitcoin saw its first weekly price drop since its post-election surge after Trump’s victory. After starting the week at $105,185, BTC closed at $94,645—a roughly 10% drop or a loss of $10,500. This decline aligns with shifts in Federal Reserve monetary policy, as the Federal Open Market Committee reduced its expected interest rate cuts for 2024 from five to two.

### Major Institutional Moves
Japanese investment giant Metaplanet made headlines by purchasing nearly 620 BTC—its largest acquisition yet—as Bitcoin dipped below $100,000. On December 23, Metaplanet announced it had acquired 619.7 BTC for almost $60 million, with each Bitcoin priced at around $96,000 during the transaction. This marks a significant leap from their previous purchase of 159.7 BTC in October. The firm has been steadily increasing its Bitcoin investments since May, signaling growing confidence in the cryptocurrency’s long-term value.

### Political Developments
US President-elect Donald Trump announced Bo Hines as the Executive Director of a new “Crypto Council” under his administration. This council will focus on digital asset policies and be led by David Sacks, who was previously named as the administration’s head for cryptocurrency and artificial intelligence initiatives. Trump made this announcement via his Truth Social platform on December 22.

### Expert Insights
According to Edul Patel from Mudrex, Bitcoin’s recent dip to $92,100 was triggered by weak inflation data and Powell’s hawkish views on Bitcoin reserves. However, this correction offers investors an opportunity to accumulate ahead of another potential rally. Patel expects Bitcoin to trade within a range in the coming days as investors await a key catalyst for the next upward move.

Thangapandi Durai from Koinpark highlighted that Bitcoin remains dominant in the crypto market despite short-term fluctuations. Institutional interest and increased trading volumes suggest strong market confidence. Technical patterns like the “golden cross” and a positive MACD indicate bullish trends ahead. However, with the RSI approaching overbought levels, short-term corrections may occur, urging investors to proceed cautiously.

Bitcoin’s journey continues to captivate both individual and institutional investors alike. With new developments in policy and institutional participation shaping the landscape, the coming weeks will be critical for understanding where BTC and the broader crypto market are headed next.