Bitcoin has just dropped below 116,000 USD, currently trading around 115,876.70 USD, down 3.34% in a day.
Market updates indicate that Bitcoin is under downward price pressure, reflecting notable volatility in the value of the largest cryptocurrency in the world.
MAIN CONTENT
Bitcoin dropped sharply, losing more than 3% in just one day.
BTC price is trading close to 116,000 USD, creating psychological pressure.
Price volatility reflects the unstable trend of the cryptocurrency market.
Bitcoin dropped below 116,000 USD; how is it currently trading?
The cryptocurrency market witnessed a decline of Bitcoin as the price hit 115,876.70 USD, equivalent to a drop of 3.34% in a day, according to data from a reputable exchange as of July 15, 2024.
A sharp decline in Bitcoin's price over a short period raises concerns about short-term market trends, while also indicating the influence of macroeconomic factors and investor sentiment.
What causes the recent decline in Bitcoin's price during recent trading sessions?
Experts point out that global economic factors and monetary policy tightening measures negatively impact cryptocurrency investment sentiment, especially Bitcoin.
"Pressure from rising interest rates and tightening monetary policies has caused Bitcoin to adjust sharply in price over the past week."
John Wu, CEO of a blockchain financial company, July 14, 2024
In addition, trading volume on major exchanges shows a high trend of profit-taking, indicating signs of market tension before price adjustments.
How does the drop in Bitcoin's price affect the cryptocurrency market as a whole?
Bitcoin is often seen as a health indicator for the entire cryptocurrency market. The 3.34% drop causes many altcoins to face downward pressure due to the domino effect.
Bitcoin's instability also causes investors to think more carefully before making investment decisions, contributing to reduced liquidity and delaying the bull market trend in the short term.
"Bitcoin remains the largest benchmark for the entire cryptocurrency market; its fluctuations directly affect investor confidence."
Mary Nguyen, Market Analyst, 2024
Comparing Bitcoin's price drop with other cryptocurrencies
Cryptocurrency Price drop rate in 24 hours (%) Current price (USD) Bitcoin 3.34% 115,876.70 Ethereum 2.87% 3,540.50 Binance Coin 2.15% 410.25
Frequently Asked Questions
Can Bitcoin's price continue to decline?
Market data and macroeconomic trends indicate that Bitcoin may continue to fluctuate, but the risk of a deep decline depends on technical factors and investor sentiment.
Does the drop in Bitcoin's price signal investors to withdraw?
Experts recommend carefully considering long-term investment strategies rather than reacting to short-term fluctuations to optimize profits.
How does this decline affect altcoins?
Altcoins often move in tandem with Bitcoin; therefore, a decline in Bitcoin's price will put downward pressure on the overall cryptocurrency market.
Why does Bitcoin still play an important role in the cryptocurrency market?
Bitcoin is the first and largest cryptocurrency, serving as a signal benchmark for the entire cryptocurrency ecosystem.
How to minimize risk when the Bitcoin market is highly volatile?
Applying risk management through portfolio diversification and using protective tools like stop-loss helps minimize losses when prices fluctuate.
Source: https://tintucbitcoin.com/bitcoin-mat-334-xuong-duoi-116-000-usd/
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