As a seasoned analyst with over two decades of market experience under my belt, I’ve seen more than a few rollercoaster rides in the world of cryptocurrencies. And this latest dip in Bitcoin’s price is no exception. The sudden plunge below $94,000, just days after hitting an all-time high of $100,000, certainly caught many by surprise.
The cost of a single Bitcoin (BTC) dropped below $94,000 on Thursday evening, marking a swift descent from its recently established record peak of approximately $100,000.
There was no immediately obvious reason for the drop.
According to data compiled by CoinDesk Indices, which aggregates prices from multiple sources, bitcoin plummeted to a low of approximately $93,468.34. Simultaneously, the cryptocurrency reached around $90,500 on Binance and hovered slightly higher at about $92,000 on Coinbase.
In an unusual occurrence, the sell-off didn’t affect the broader crypto market as expected. While Bitcoin plummeted, most other cryptocurrencies remained relatively unaffected.
Bitcoin then rebounded back above $96,000.
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2024-12-06 02:06