Bitcoin's ongoing battle to reach the $100,000 mark has led to a significant crash in the broader cryptocurrency market. As of today, Bitcoin's price has fallen to $97,200, a stark contrast to its recent all-time high of $103,900, which was reached following Donald Trump's victory in the U.S. elections on November 6. The excitement surrounding this rally has recently faded, and investors are increasingly concerned that the bullish momentum may be running out.
Several factors are contributing to the bearish dominance in the market, including Bitcoin holdings from Bhutan, Ethereum sales by prominent figure Justin Sun, and rising liquidation levels. Many major altcoins have also been adversely affected, struggling to maintain their earlier gains as market sentiment shifts.
However, amid the downturn, a few tokens are standing out. PEPE has recently hit an all-time high, while X Empire has surged by 47% over the past week. Analysts believe that the current correction may serve as a necessary pullback before paving the way for a stronger rally in 2025. As the market reacts to these developments, investors are left to navigate the complexities of a rapidly evolving landscape, hoping for a resurgence in the near future.
$BTC
