Bitcoin Price Drops Below $99K for Short Time; Whales Accumulate BTC
Bitcoin’s price experienced a slight drop yesterday as it briefly dipped below $99,000 per coin on January 6th, according to HTX market data. The world’s largest cryptocurrency by market capitalization saw its 24-hour gain narrow down to 1.31% during this period of volatility.
The dip did not last long, however, with Bitcoin quickly recovering above $99k within hours. This minor fluctuation has done little to dampen investor confidence in the asset class overall – particularly among whale investors who continue to accumulate significant amounts of BTC despite recent corrections.
While some analysts have speculated about potential reasons behind this recent dip – such as increased selling pressure from profit-taking or regulatory concerns – others argue that these movements are simply part of Bitcoin’s natural cycles and should be expected by investors.
Source: M.theblockbeats.info
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