As of December 22, 2024, Bitcoin (BTC) is trading at approximately $96,400, reflecting a 2.09% decrease from the previous close.
Over the past week, Bitcoin has experienced a decline of over 9%, with its price dropping below $95,000 on Friday. This downturn is partly attributed to significant outflows from Bitcoin exchange-traded funds (ETFs), which recorded the highest single-day outflow of $680 million, indicating potential profit-taking by investors.
Technical analysis presents a mixed outlook. TradingView's summary technical rating for Bitcoin is currently neutral, suggesting that market conditions are neither strongly bullish nor bearish. Investing.com's technical indicators also signal a 'Sell' recommendation, with moving averages and technical indicators aligning with this sentiment.
In terms of market activity, Bitcoin's 24-hour trading volume stands at approximately $12.21 billion, with a circulating supply of around 19.80 million BTC.
Given the current market volatility and mixed technical indicators, it's advisable for investors to exercise caution and consider consulting financial advisors before making investment decisions.
