Donald Trump

Bitcoin

<p>Yesterday Bitcoin hit a huge milestone, breaking $100,000 for the first time ever. But just as the crypto space started celebrating, the price took a nosedive and dropped below $93,000.</p> 
<p>This was due to massive sell-off in the market. The same day, the crypto market saw nearly $890 million in liquidations, and Bitcoin was responsible for over $489 million of trading volume which was mostly from traders betting that the prices would keep going up.</p> 
<p>Today, things started to calm down and Bitcoin slowly climbed back, crossing the $100,000 mark again just after 12:45 PM ET.&nbsp; It peaked at $101,878 before cooling off to around $101,576.&nbsp;</p> 
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  <img decoding="async" width="860" height="427" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/BTC-USD-Price-Chart-3-860x427.png" alt="BTC USD Price Chart 3" class="wp-image-221274">
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   BTC/USD Price Chart | Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
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<p>The strong U.S. jobs report released this morning seems to be behind this rebound. The Non-Farm Payroll (NFP) data is often released every first Friday of the month. According to ForexFactory, the NPF release today was “greater than ‘Forecast’ which indicates a good performer for the U.S currency.</p> 
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  <img decoding="async" width="860" height="230" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/Non-Farm-Payroll-data-860x230.png" alt="Non-Farm Payroll data" class="wp-image-221273">
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   Non-Farm Payroll data| Source: <a href="https://www.forexfactory.com/" target="_blank" rel="noreferrer noopener nofollow">ForexFactory</a>&nbsp;
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<p>Another talking point was Donald Trump announcing venture capitalist <a href="https://www.cryptotimes.io/2024/12/06/president-trump-names-david-sacks-as-white-house-crypto-and-ai-czar/" target="_blank" rel="noreferrer noopener">David Sacks</a> as the White House’s first-ever AI and Crypto Czar.</p> 
<p>Meanwhile, Bitcoin’s popularity with institutional investors keeps growing. Spot Bitcoin ETFs (Exchange Traded Funds) now hold over 1.1 million BTC, worth $110 billion. That’s more than the amount held by Bitcoin’s mysterious creator, Satoshi Nakamoto.</p> 
<p>This sudden drop in value was probably unexpected for many traders, especially with those who took out loans to trade. Nevertheless, a rapid return to 100K means that there is still a demand for Bitcoin in the market.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/12/06/ethereum-crosses-4000-for-second-time-this-year/" target="_blank" rel="noreferrer noopener">Ethereum Crosses $4,000 for Second Time This Year</a></p> 
</blockquote>

Bitcoin Rebounds Above $100K After Short Liquidity Grab

The Crypto Times

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