Bitcoin (BTC), the world's largest cryptocurrency by market value, fell below the $100,000 mark on Monday, January 27, as traders booked profits following a recent rally. The drop comes shortly after former U.S. President Donald Trump highlighted the digital-assets industry as a crucial driver of innovation in an executive order.
As of 12:09 AM IST, Bitcoin had declined 5.4% to $99,359. Smaller tokens such as Solana, Dogecoin, Sui, and Cardano, which have surged in recent weeks, experienced even sharper declines.
«Bitcoin's recent price movement highlights the ongoing battle between bulls and bears. While short-term holders exhibit cautious sentiments due to significant liquidations and fluctuating trading volumes, long-term holders remain optimistic and resilient,» said Avinash Shekhar, Co-Founder & CEO of Pi42.
Ryan Lee, Chief Analyst at Bitget Research, added, «The market sentiment remains mixed. Technical indicators suggest a potential symmetrical triangle formation, reflecting investor indecision. Broader economic factors, including U.S. interest rate decisions and the upcoming FOMC meeting, are contributing to potential volatility in Bitcoin's price movements this week.»
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