The world’s largest cryptocurrency fell to $91,300, the lowest in a month, as profit-taking pressure surged following a year of significant investor gains.
After a brief recovery above $98,000 last week, Bitcoin (BTC) started to decline gradually. In 31 December 2024, the world’s largest cryptocurrency repeatedly tested the $93,000 range, at times dropping to $91,300. This range continued through this morning, marking BTC’s lowest level in a month and a nearly 16% decline from its record high of $108,268 set on December 17.
Not only Bitcoin, but the cryptocurrency market as a whole has also cooled. Ether fell about 1% to $3,320, down 17% from its December peak. The CoinDesk 20 Index, which tracks the top 20 cryptocurrencies by market capitalization excluding stablecoins, memecoins, and exchange coins, also plunged, losing 3.74%. XRP and Stellar were hit the hardest, dropping 6% and 6.3%, respectively.
Shares of cryptocurrency-related companies were not spared. MicroStrategy and Coinbase fell 7% and 5.2%, respectively, compared to their reference prices. Major Bitcoin mining firms such as MARA Holdings and Riot Platforms also saw their shares decline by over 7%.
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