Bitcoin has recently experienced a notable dip, trading around $98,090.12 as of December 26, 2024, following a previous close of $99,361.28. This decline comes amid warnings from analysts about a potential crash that could see Bitcoin’s price plummet by as much as $20,000 in the coming weeks.
A significant factor in the bearish sentiment is the recent drop in the global money supply by $4.1 trillion, which has raised concerns about Bitcoin’s price trajectory. Analysts suggest that Bitcoin often reacts to changes in global liquidity with a lag of approximately ten weeks, indicating that this decline could lead to further price drops.
The Federal Reserve’s hawkish stance and recent discussions about interest rate cuts have contributed to increased market volatility. Speculation surrounding potential rate adjustments has made investors cautious, further impacting Bitcoin’s price stability.
Technical indicators suggest that Bitcoin may be forming a bearish pattern, with some analysts predicting it could fall below critical support levels around $90,000. If this support fails, a deeper correction towards the $20,000 mark could be imminent.
Recent Price Movements
– Bitcoin reached an all-time high of over $100,000last week but has since corrected significantly.
– As of the latest data, Bitcoin is down approximately 1.27%, reflecting ongoing selling pressure in the market.
Bitcoin’s recent price dip is influenced by a combination of declining global liquidity, macroeconomic factors related to Federal Reserve policies, and bearish technical signals. Analysts remain cautious as they monitor these developments for potential further declines in Bitcoin’s value.
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