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Bitcoin has taken a dip in the past 24 hours, slipping 3% and causing widespread uncertainty. After weeks of steady gains and new highs for many coins, the broader market is now cooling off. Despite this shift, the Best Wallet token ICO is holding strong – passing the $3 million mark yesterday. Bitcoin Retreats Below $98K as Long-Term Holders Take Profits Bitcoin’s push to stay above $100,000 has hit another snag, with the coin sliding back to $97,900 in the last day. This is the sixth time BTC has struggled to hold the six-figure level – despite breaking through it multiple times. The pullback seems tied to profit-taking by long-term holders, especially those who accumulated Bitcoin between March and October. On-chain data shows these investors have moved about 179,000 BTC in the past three days. That trend signals many are cashing out after the recent price surge. And the market has felt the impact, with $131 million in long positions liquidated over the past 24 hours. But there’s still room for optimism. Spot trading volumes for BTC have jumped 77% to $112 billion, showing strong market activity, even amid the downturn. Paired with patterns seen in previous bull markets, Bitcoin’s price drop might be a temporary pause rather than a deeper correction. Altcoins Follow Bitcoin Lower as Market Eyes Microsoft’s BTC Vote The rest of the crypto market seems to be following Bitcoin’s lead. Most major tokens are in the red today, with XRP taking the hardest hit, dropping 6% in the past 24 hours. Fellow altcoins Solana and BNB are down 4% and 3%, respectively. In total, the crypto market cap has slipped nearly 2% since yesterday – a sharp change from last week’s bullishness. There are a few factors behind this cooldown. #Bitcoin Bulls Face Tough Resistance $BTC…

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Filed under: News - @ December 10, 2024 9:21 pm