Bitcoin’s price stabilized near the $100,000 mark after a sudden drop of over 7% earlier in the day. The digital asset briefly fell to around $92,144 but rebounded to approximately $99,500 as of 11:15 am ET. This move reflects rising volatility in the market, which has been plagued by fluctuations following a record-breaking rally. eToro’s Josh Gilbert expects profit-taking from speculators as investors seek protection. Meanwhile, Ether, the second-largest cryptocurrency, reached a new high above $4,000 for the first time since March. The recent price movement comes amidst a period of uncertainty after President-elect Donald Trump expressed support for the crypto sector.
Source: https://www.bloomberg.com/news/articles/2024-12-06/bitcoin-btc-briefly-slumps-nearly-7-as-traders-hedge-for-pullback