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Bitcoin’s latest slide has traders on edge as the leading token briefly fell below $100,000 for the first time since June.
What’s the Scoop?
- Price drop:
Bitcoin hit lows of around $99,688 according to CoinMarketCap, though it has since recovered above $100K. The asset is down 5.5% on the day. - Correction deepens: BTC is now down more than 20% from its all-time high above $126,000 set last month, marking a new low since the October 10 flash crash liquidated billions.
- Macro pressure: Selling accelerated after the Federal Reserve signaled a more hawkish stance last week, dampening hopes for another rate cut in December.
- Sentiment shift: After months of bullish optimism, traders are turning cautious as Bitcoin continues to fail to keep pace with high-flying tech stocks.
