Bitcoin fell dramatically today. It went from an intraday peak of $104,000, to $94,480. The price dropped by a large amount, wiping off earlier gains.
The 12-hour clock began on the 12th of December. Bitcoin price Achieved a high of $100,000 then, consistently, slid down the scale from that level to as low as $94,480.
Ethereum fell below $3.100 in some instances and cryptocurrency stocks like Coinbase (COIN) or Strategy ($MSTR), which are traded in red, have been trading during pre-market.
Then, there is also the Bitcoin Fear and Greed Index The price of oil has risen to new levels “Extreme Fear” Even though investors who have been long-term buyers of the stock continue to hold it, prices are still low and signal deep market anxieties.
Prices dropped after weeks of weakening consumer demand. heavy long-term holder sell-offsIn addition, there are persistent outflows in spot Bitcoin ETFs. More than 815,000 BTC — nearly $79 billion — were sold by long-term holders in 30 days, while ETFs saw hundreds of millions in daily outflows, draining liquidity at the worst moment.
As of November 13th, approximately $550,000,000 in positions had been liquidated. Options traders also rushed to purchase protective puts before a $4 Billion expiry date, reinforcing the bearish momentum.
Macropressure adds fuel to the fire tech stocks are slidingRisk aversion is increasing as key U.S. data are delayed and the Federal Reserve is uncertain about its rate-setting path.
Bitcoin has broken major technical supports, including its 200-day moving average and key Fibonacci levels, with analysts warning that a decisive drop below $97,000 could open the path toward $92,000–$74,000.
Bitcoin Magazine Pro’s data shows that the price of bitcoin was last near this level (below $94,000) in early May.
Bitcoin Price: Who sells Bitcoin?
The bitcoin price may have dropped because long-term owners are unloading their holdings in record numbers. Data from CryptoQuant shows they’ve sold about 815,000 BTC in 30 days — the most since early 2024 — while spot and ETF demand weaken.
The sell-off has been intensified by the fact that institutional buying is below the daily supply of mining. Prices remain near a crucial moving average around 102,000 dollars, which is critical for determining whether prices will rebound. trigger deeper lossesAccording to Bitcoin Magazine Pro’s analysis,.
Bitfinex Analysts say the current bitcoin pullback mirrors past mid-cycle retracements, with the drop from October’s high matching the typical 22% drawdown seen throughout the 2023–2025 bull market.
“It is important to note too, that even at the $100,000 level, approximately 72 percent of the total BTC supply remains in profit,” Bitfinex analyst wrote: Bitcoin Magazine yesterday. A short rally to relieve the pressure is expected, but a more sustained recovery requires new demand.
JPMorgan analysts, according to The Block say Bitcoin’s estimated current production costs of $94,000 act as a historic floor price, which suggests the bitcoin is at its lowest price.
Analysts believe rising production costs have pushed bitcoin’s cost-to-price ratio to near-historical lows. The analysts maintain a bold 6–12 month upside projection of about $170,000.
Price swings in bitcoin aren’t driven by small retail investors—they’re driven by whales, institutions, and leveraged market structures. Whale wallets with thousands of BTC in them can be more powerful than exchanges. A single transfer is enough to change the mood when liquidity levels are low.
ETFs, hedge funds and corporate treasuries dominate the daily direction of the market, as billions are poured in or withdrawn to determine whether Bitcoins rally or plummet.
After President Trump had signed the funding bill on late Wednesday, the U.S. federal government reopened following a 43-day record shutdown. This was the longest ever.
Below is a list of the most recent posts. the bill After Trump’s signature on Wednesday, the funding for many federal agencies expires at midnight of January 30.
The recovery process will be gradual, despite the fact that federal operations resumed. Bitcoin is currently trading at $94,470.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
