Cryptocurrency

Bitcoin

Impact

Reserve

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-experiences-decline-following-recent-surge/" data-wpel-link="internal">Bitcoin Price Experiences Decline Following Recent Surge</a><br></p>
<p style="text-align: justify"><strong>Bitcoin price</strong> surged to $104,088 over the past 24 hours before beginning to drop again. As this article was being prepared, the price fell below $98,500, nearly erasing its gains within the last day. What is causing this decline? Why are <a href="https://en.coin-turk.com/recent-events-impact-cryptocurrency-markets-and-feds-monetary-policy/" data-wpel-link="internal">cryptocurrencies</a> falling, and how long might this last?</p> 
<h2 style="text-align: justify" id="market-reactions-to-bitcoin-and-cryptocurrency-volatility">Market Reactions to Bitcoin and Cryptocurrency Volatility</h2> 
<p style="text-align: justify">Initially, there was an anticipated wave of profit-taking following BTC’s rise above six-digit levels. It is normal for a rapid and steady increase to pause at some point, even in bull markets. Such pauses can lead to losses of up to 20%. The profit-taking triggered by reaching six-digit prices in December after November’s surge is quite standard.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-412451 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-05_23-03-11.png" alt="" width="1814" height="836"></p> 
<h2 style="text-align: justify" id="impact-of-market-news-on-bitcoin-s-price-trend">Impact of Market News on Bitcoin’s Price Trend</h2> 
<p style="text-align: justify">Moreover, the recent rise was a response to a struggle against liquidated short positions at $98,000 and above. After liquidations, a price pullback is typical. The crucial point is that there is a short time before the Federal Reserve meeting on December 18 and more than a month until Trump takes office on January 20.</p> 
<p style="text-align: justify">With the confirmation of the <a href="https://en.coin-turk.com/millions-of-dollars-disappeared-with-a-single-news/" data-wpel-link="internal">SEC</a> Chair, many of the priced-in expectations have materialized. Since we are witnessing the effects of anticipated events on the charts in the short and medium term, a pause in rate cuts at the Fed meeting would not be surprising.</p> 
<p style="text-align: justify">However, as we approach the first quarter of next year, with the U.S. stance on <a href="https://en.coin-turk.com/upbit-lists-nervos-networks-ckb-token-sparking-market-surge/" data-wpel-link="internal">cryptocurrency</a> having changed significantly, the market is expected to maintain its upward trajectory. In summary, this decline is likely to be shallow and short-lived, with potential support levels around $94,000 and $91,300.</p> 
<p>The post <a href="https://en.coin-turk.com/bitcoin-price-experiences-decline-following-recent-surge/" data-wpel-link="internal">Bitcoin Price Experiences Decline Following Recent Surge</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Price Experiences Decline Following Recent Surge

Table of Contents

COINTURK NEWS

Other articles published on Dec 5, 2024

HyperLiquid HYPE Token Launch: Everything You Need to Know

Xelite Pulse | December Edition (Episode 9)

Memecoin Gains Popularity Among Young Users

President-elect Trump Is Fueling the New Crypto Wave

SuperEx丨Meme coins are ushering in a golden age.

TRON Whale Withdraws TXR from Binance Amid 90% Price Surge— Is A Massive Resurgence Looming?

Join our free newsletter for daily crypto updates!