🔥 Bitcoin (BTC) Declines in the Last 24 Hours: Is the Bear Market Making a Comeback?
In the last 24 hours, Bitcoin (BTC) has dropped significantly, currently trading at $104,632 USD, down about 0.83% from the previous closing price. The price fluctuated between $104,505 and $105,916 USD, indicating that selling pressure from large investors (whales) continues to dominate the market.
Recent data shows signs of weakening in the U.S. labor market, raising expectations that the Federal Reserve (Fed) may cut interest rates in the near future. This could support Bitcoin as investors seek alternative assets in a low-interest-rate environment.
However, some experts warn that Bitcoin could face difficulties if it fails to maintain critical support levels. If the price falls below $95,000, it could trigger a new wave of selling. (bitget.com)