Bitcoin price ($BTC ) is currently trading 13% lower than the all-time high of 108,000 USD, the largest drop since the U.S. presidential election. Strong selling pressure from long-term holders (LTHs) has caused the price of Bitcoin to plummet, while demand from short-term investors is not enough to offset the supply.
Market Movement Details
Deep price drop: Bitcoin is currently around 94,500 USD, sharply down from its peak. Some investors view this as a correction phase as the price has dropped by 10% or more.