Today, December 9, 2024, the cryptocurrency market faced a significant drop, with $BTC (Bitcoin) falling back to $94,000, after starting the month at $97,000. But what caused this devaluation?
Profit Realization:
Investors, seeing BTC close to its all-time high of US$103,000.00, decided to sell to secure gains, pushing the price down.
$100,000 Psychological Barrier:
The $100,000 figure acts as a psychological hurdle, influencing buying and selling decisions.
Futures Market Settlements:
Recently, more than $1 billion worth of cryptocurrency futures contracts were liquidated, intensifying the price decline.
Geopolitical Tensions:
International conflicts, such as tensions between Iran and Israel, increase uncertainty in markets, leading investors to seek safer assets.
Future Perspectives:
Despite the dip, experts remain optimistic. On-chain data suggests that Bitcoin’s bull run is not over yet, with the potential to surpass $150,000 by 2025.
How Should You React?
Given this scenario, it is crucial to remain calm and evaluate your investment strategies. Are you prepared for the fluctuations in the cryptocurrency market? What measures can you take to protect your investments?