DeFi Daily News
Tuesday, July 29, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Cryptocurrency Altcoins

rewrite this title Why Is Bitcoin Falling? Price Tumbles 16% from Monthly High Before New Year

Jared Kirui by Jared Kirui
December 30, 2024
in Altcoins
0 0
0
rewrite this title Why Is Bitcoin Falling? Price Tumbles 16% from Monthly High Before New Year
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

Bitcoin has entered a significant slump, dipping below
$92,000, the lowest since breaking through $100,000 in early December. As 2024
draws to a close, profit-taking by long-term holders and macroeconomic factors could
be driving the largest cryptocurrency to its lowest point in weeks.

Investors, particularly those holding Bitcoin for
extended periods, could also be seizing the opportunity to cash out after a remarkable
year of growth that saw the digital asset surge by more than 100%.

Profit-taking and Market Sentiment

Bitcoin’s ongoing price fall, at $93,594 at the time of publication, represents
a 16% decline from its peak of $108k on December 17, data from CoinMarketCap shows. The sell-off, which has
also impacted other cryptocurrencies like Ether (ETH) and Solana (SOL), comes
amid broader financial market pressures.

Fundamentally, the main factor for Bitcoin’s downturn
is profit-taking by long-term holders, who have benefited from the
cryptocurrency’s significant price increase this year.

While profit-taking is a key factor, macroeconomic
conditions are also playing an important role. The uncertainty surrounding the
Federal Reserve’s interest rate policy, especially as it’s likely to pause rate
cuts until March 2025, has added to investor caution.

As U.S. markets retreat, with indices like the S&P
500 and Nasdaq down over 1%, sentiment in the cryptocurrency space remains
fragile. Despite substantial acquisitions from major players
like MicroStrategy and Tether, Bitcoin’s technical indicators suggest the price
could face further declines.

MicroStrategy just bought 2,138 more BTC, bringing its total holdings to 446,400 BTC. Tether, too, has continued to build its Bitcoin
reserves, now holding over $7.7 billion worth of the cryptocurrency.

MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2

— Michael Saylor⚡️ (@saylor) December 30, 2024

However, even with these acquisitions, Bitcoin’s price
has continued its downward trend, signaling that the market may not be ready
for a rebound just yet. Technical analysis reveals that Bitcoin is struggling
to maintain key support levels.

Bitcoin’s Technical Outlook

On the daily chart, the cryptocurrency flipped the 50-day Exponential Moving Average into resistance and tested the crucial $91,883 support level before rebounding to $94,325. However, BTC remains above the $200 moving
average, which is acting as support.

It is important to note that if the price drops below the $91k support level, it could decline further before any change of trend can
be seen. In this case, potential levels to watch are $72, 341, $67, 928, or
$61,152. Additionally, the Relative Strength Index (RSI) is above the oversold zone at 44, meaning that the price could further go down, at least in the short term.

As we move into 2025, Bitcoin’s outlook remains
uncertain. While the cryptocurrency has seen impressive gains in 2024, the
market may be entering a phase of consolidation or a bear market. The path ahead is less clear for the top digital asset, with the potential for further volatility in 2025.

This article was written by Jared Kirui at www.financemagnates.com. and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: BitcoinFallinghighMonthlyPricerewritetitleTumblesYear
ShareTweetShare
Previous Post

rewrite this title Ethereum Stays Within Symmetrical Pattern – Analyst Sets ETH Target

Next Post

i’m violently quivering… nobody is ready for what’s about to happen to bitcoin and crypto altcoins

Next Post
i’m violently quivering… nobody is ready for what’s about to happen to bitcoin and crypto altcoins

i'm violently quivering... nobody is ready for what's about to happen to bitcoin and crypto altcoins

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title and make it good for SEO 7 Strategies to Maximize NFT Airdrop Rewards

rewrite this title and make it good for SEO 7 Strategies to Maximize NFT Airdrop Rewards

January 15, 2025
Spanish Police Dramatically Stop Illegal Immigrants by Cutting Their Boat in Half

Spanish Police Dramatically Stop Illegal Immigrants by Cutting Their Boat in Half

August 29, 2024
rewrite this title and make it good for SEOPowerBank’s 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy

rewrite this title and make it good for SEOPowerBank’s 3.79 MW Geddes Solar Project Goes Live, Powering New Bitcoin Treasury Strategy

July 29, 2025
How Kohl’s Kicked Off Another Meme Stock Frenzy

How Kohl’s Kicked Off Another Meme Stock Frenzy

July 29, 2025
rewrite this title Google’s AI Mode update adds even more tools for students

rewrite this title Google’s AI Mode update adds even more tools for students

July 29, 2025
rewrite this title How Khloé Kardashian Celebrated Her Son Tatum’s 3rd Birthday

rewrite this title How Khloé Kardashian Celebrated Her Son Tatum’s 3rd Birthday

July 29, 2025
rewrite this title Tom Lee’s Granny Shots ETF rakes in  billion in AUM just 9 months after inception

rewrite this title Tom Lee’s Granny Shots ETF rakes in $2 billion in AUM just 9 months after inception

July 29, 2025
rewrite this title *HOT* Free Snackle Box at Walmart after cash back!

rewrite this title *HOT* Free Snackle Box at Walmart after cash back!

July 29, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.