Bitcoin Dips to $99,997 Amidst Widespread Crypto Market Turmoil 📉
Bitcoin experienced a volatile week, dropping from its record high of $108,364 to just below $100,000 at $99,997 after the U.S. Federal Reserve signaled a slower pace for rate cuts.
As of December 18, Bitcoin recovered slightly to $100,563, reflecting a 4.8% decline. Ethereum also fell by 5.5%, while meme coins like Peanut the Squirrel (PNUT) and Popcat (POPCAT) plunged over 18%. Despite the dip, global trading volume surged by 31% to $248 billion, with derivatives markets seeing $671 million in liquidations, primarily long positions. The market remains highly reactive to macroeconomic shifts, highlighting its unpredictable nature.
Clever Robot News Desk 20th December 2024
