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Cryptocurrency Price Crash: Bitcoin down to $98,000 from $105,000

Tags: bitcoin, Cryptocurrency, Ethereum, Onyxcoin.
Posted on 27 January 2025 by "T".

The cryptocurrency market faced a sharp decline on Sunday evening, mirroring a drop in stock futures.

Bitcoin led the downturn, falling from over $105,000 to around $101,000, with Ethereum dropping from $3,340 to below $3,200. Dogecoin saw a significant dip of over 7%. The total liquidations in the crypto space were substantial, amounting to $400 million in just four hours, primarily from long positions.

As stocks declined, Bitcoin's Open Interest slightly increased, signaling a rise in short selling, which reflected cautious investor sentiment. Despite the overall market contraction of 3.65%, some altcoins, like Onyxcoin, managed to post gains, with Onyxcoin rising 12%.

Looking ahead, the market's direction may be influenced by upcoming earnings reports from major tech companies and an imminent Federal Reserve meeting. Some analysts suggest that despite current volatility, there could be bullish signals ahead.

Impacts of Market Volatility

The recent downturn in the cryptocurrency market has broader societal, cultural, and economic implications. As cryptocurrencies become more integrated into global financial systems, their price fluctuations can influence public confidence and consumer behavior. A significant drop like this not only causes investor anxiety but also impacts individuals relying on digital assets, whether for trading or as a form of payment.

This volatility also draws the attention of regulators worldwide, potentially accelerating efforts to create more stable regulatory frameworks. Some governments are even exploring Central Bank Digital Currencies (CBDCs) as a more stable alternative to volatile private cryptocurrencies.

Additionally, the environmental impact of cryptocurrency mining remains a key concern. Market swings could affect mining operations, with unprofitable ventures shutting down, reducing energy consumption in some areas, while others may increase operations during market booms.

Market Overview and Key Movements

  • Bitcoin: Dropped to around $101,000.
  • Ethereum: Fell to below $3,200.
  • Dogecoin: Experienced a 7% drop.
  • Altcoins: Onyxcoin surged by 12%.

During this period, approximately $400 million in liquidations occurred, mainly from long positions.

 

Trading Sentiment and Market Dynamics

The market sentiment has turned cautious, with a notable increase in short positions and more traders betting against Bitcoin's recovery. Bitcoin's Open Interest has seen a slight uptick, signaling increased bearish sentiment and potential for a continued bear market.

 

Future Outlook

Factors such as earnings reports from tech companies and the Federal Reserve meeting could significantly influence the market. Analysts remain divided, with some seeing potential for recovery, though the volatility remains high.

 

Pros and Cons of Investing in Cryptocurrencies Right Now

Pros:

  • Opportunities in Volatility: Experienced traders may profit from short-selling.
  • Potential for Recovery: Market corrections could present long-term buying opportunities.
  • Selective Altcoin Strength: Some altcoins are thriving, indicating resilience.

Cons:

  • Risk of Liquidations: Heavy long positions are vulnerable to liquidations.
  • Uncertain Sentiment: Mixed signals from analysts create an unpredictable environment.
  • Economic Concerns: Broader economic issues like inflation and interest rates may affect market stability.

 

Remember: Crypto in General is Highly Volatile

The cryptocurrency market is navigating significant volatility, with major cryptocurrencies facing declines while some altcoins show resilience. Investors should monitor economic factors and market trends closely before making new investments.

Bitcoin's lowest price so far was at $97,795 within the past 24 hours, according to CoinMarketCap. As of writing, the cryptocurrency has recovered a bit, trading at $100,400.

Source:
https://www.qhubo.com.ni/news2/shockingly-plummeting-prices-the-crypto-crash-everyones-talking-about/63456/
Free image: https://pikbest.com/photo/crypto-exchange-platform-analyzing-chart-and-bitcoins_10611301.html


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11 comments on "Cryptocurrency Price Crash: Bitcoin down to $98,000 from $105,000"


 CALICUL27/01/2025 14:39:41 GMT
This drop is serious for those who own bitcoins. Bitcoin has risen a lot, it has fallen seriously, but it can rise again if the calculations of the big bankers decide so. I think bankers decide these things...
 geseco1228/01/2025 04:51:20 GMT
This is very interesting, cryptocurrencies often behave like this, so you have to be prepared for that. This volatility also draws the attention of regulators around the world, which could accelerate efforts to create more stable regulatory frameworks.
 dule-vu28/01/2025 05:41:35 GMT
Its not big drop because at this time its on over 103 K !
 geseco1230/01/2025 15:36:21 GMT
Now the price of bitcoin is 105k dollars, it is incredible how the price of bitcoin has increased in the last 5 years, from having a price of 5k in 2020 to more than 100k in 2025, crazy, those who invested In that year they have won a lot.
 dule-vu30/01/2025 15:36:52 GMT
Now it grow!
 geseco1203/02/2025 20:38:18 GMT
The price of bitcoin remains at more than 100k dollars, it continues to rise and fall but it is always at the price of more than 100k, one of the cryptocurrencies that is always growing every year, so it is worth investing long term in bitcoin .
 dule-vu03/02/2025 20:45:45 GMT
Its always arround same amount, more or less!
 geseco1206/02/2025 15:31:55 GMT
Now bitcoin has fallen, it is below 100k, that's right, many experts are saying that bitcoin has reached its maximum points and can no longer continue to rise any more. That's why it can go down a lot now.
 dule-vu06/02/2025 15:39:45 GMT
We dont buy or sell it, so its not important for us!
 geseco1211/02/2025 17:12:41 GMT
Bitcoin is now in a tremendous fall, it is going for 96k dollars, it is expected to go down much more, but no one knows, it is just speculation, these cryptocurrencies are like that, some months it is up and others it is down.
 CALICUL11/02/2025 18:50:39 GMT
this virtual currency falls, rises and this has been happening for some time with Bitcoin, because that's how this market works... There is nothing abnormal but some people are losing money here and others won.

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