Bitcoin price drops below $94,000 after record high, market cap falls below $2 trillion
Bitcoin prices fell sharply from a record high of $103,583, dipping below $94,000 before rebounding to $97,000 on Friday, just a day after reaching historic levels. The cryptocurrency's market capitalization also dropped below $2 trillion, a level it had briefly surpassed on Thursday.
As of 11:30 PM, Bitcoin was down 4.5%, trading at $97,924, while Ethereum rose 1.2%, reaching $3,893.
«In the last 24 hours, the cryptocurrency market saw significant volatility, with Bitcoin dipping below the $100,000 mark after reaching a new all-time high. This retreat came amid substantial market activity, with over $500 million in liquidations in a single day,» said Shivam Thakral, CEO of BuyUcoin.
Edul Patel, CEO of Mudrex, noted, «After hitting its peak, Bitcoin is consolidating around $97,000, with some profit-taking. Institutional players are increasingly entering the market, while retail participation remains in its early stages, suggesting the bull run could have more room to grow.»
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