December FOMC minutes released... Bitcoin falls to $94,000 range

The minutes of the Federal Open Market Committee (FOMC) meeting in December have mitigated expectations of an interest rate cut, leading to a drop in the price of Bitcoin (BTC).
As of 3:35 p.m. on the 9th, the domestic Bitcoin price on BitTorrent was down 0.87% from the same time the previous day to 141.21 million won (approximately 1
At the same time, the price of Bitcoin overseas based on CoinMarketCap was down 2.18% from the same time the previous day to $94,460 (approximately ¥14.93 million).
According to the minutes of the Federal Reserve's December FOMC meeting released on the 8th (local time), most members of the Fed agreed that monetary policy had already been significantly eased and that a gradual reduction in interest rates was in order.
In addition to the decline in expectations for interest rate cuts, Bitcoin prices fell due to outflows from Bitcoin spot exchange-traded funds (ETFs).
The US Bitcoin Spot ETF, which had been recording "net inflows" for consecutive trading days, turned to net outflows on the 8th. This has raised the prospect that Bitcoin may fall further in the short term.
Darkfost, a contributor to CryptoQuant, wrote, "Binance saw record stablecoin inflows ($13 billion) in early December last year, but since mid-December
"Instead, stablecoins have been flowing out since then," he explained. "The last time this trend was reversed was just before the Bitcoin price crash in May of last year," he added.
It is believed that the coin may experience further declines in the future.