Bitcoin Rally Fizzles as Token’s Record-Breaking Year Winds Down

A Bitcoin rally is fizzling in the final days of a record-breaking year for the digital asset, as investors assess the remaining impetus from President-elect Donald Trump’s embrace of the cryptocurrency sector.

The largest token changed hands at $94,673 as of 11:38 a.m. Friday in New York, partly paring a retreat of almost 3% from a day earlier. Smaller rivals including Ether and Dogecoin, a favorite of the meme crowd, oscillated in tight ranges.

Trump is pushing ahead with a promise to create a crypto-friendly environment in the US and has backed the idea of establishing a national ...