Bitcoin Price Drops After Reaching ATH as Investors Take Profits

Bitcoin rose to a high of $93,000 before correcting to its current price. The decline may have been caused by investors taking profits.

Azcnews Bitcoin Price Drops After Reaching Ath As Investors Take Profits

Bitcoin continues to break new records, surpassing $93,000 for the first time in history. However, the price quickly corrected back to $90,000, possibly due to profit-taking pressure from investors, including some miners.

Btcusdt Chart
Btcusdt Chart

CryptoQuant research director Julio Moreno noted that some Bitcoin miners started selling on November 12, although activity remained at a normal level. This trend is evident when looking at wallets holding 100 BTC or more.

Julio Moreno On X
Julio Moreno On X

However, four key indicators show that Bitcoin’s growth momentum remains solid, including derivatives data and the outlook for the US dollar.

As US Treasury yields rise, this suggests that investors are expecting higher returns from these fixed-income securities. In simple terms, this means that bondholders expect higher inflation or increased government spending, both of which reduce the value of Treasury bonds. In any case, the rise in yields reflects a decline in confidence in the US financial position.

Read more: Meme Coin PNUT Surges 800% After Binance Listing

Some investors have suggested that the recent appreciation of the US dollar against other major currencies such as the euro, Japanese yen, and Swiss franc could negatively impact the price of Bitcoin. However, this inverse relationship has not been the case in the past few days.

This year, there has been a lot of speculation about Bitcoin, with many analysts optimistic that the price of BTC could surpass the $100,000 mark.

Love

0.0/5

Love

Latest

Crypto Trader James Wynn Loses $99 Million In A Week

News | Altcoin | Editor Choice

Crypto Trader James Wynn Loses $99 Million in a Week

Crypto trader James Wynn lost $99 million in just one week due to failed Bitcoin bets, while another trader made $17 million by taking the opposite positions.

Most Ethereum Etf Investors Deep In The Red

News | Altcoin | Editor Choice

Most Ethereum ETF Investors Deep in the Red

Most investors in BlackRock and Fidelity’s Ethereum ETFs are suffering heavy losses as Ether’s price falls well below their entry levels, amid volatility driven by former President Trump’s trade policies.

Trading Volume On Pancakeswap Reaches $138 Billion, Surpassing Uniswap

Altcoin | Editor Choice

Trading Volume on PancakeSwap Reaches $138 Billion, Surpassing Uniswap

Thanks to strong support from CZ and Binance exchange, PancakeSwap's trading volume in May reached $138 billion, far surpassing Uniswap.

Deepseek Unveils Upgraded Ai Model, Claims Performance On Par With Chatgpt And Gemini

News | AI | Editor Choice

DeepSeek Unveils Upgraded AI Model, Claims Performance on Par with ChatGPT and Gemini

DeepSeek, a leading AI company in China, has unveiled a powerful new model with advanced reasoning capabilities, claiming performance on par with ChatGPT and Gemini, further intensifying the global AI race.

Sec Officially Withdraws Lawsuit Against Binance And Cz

Editor Choice | Policy & Regulations

SEC Officially Withdraws Lawsuit Against Binance and CZ

The SEC has officially withdrawn its lawsuit against Binance and CZ, concluding the final legal actions by the SEC targeting cryptocurrency.