Bitcoin’s price fell below $93,000 due to rising liquidations and profit-taking, marking a 3.5% drop to $94,785. Ethereum rose modestly while the dollar’s strength dampened Bitcoin demand. Experts see potential volatility with looming options expirations worth $9.4 billion this Friday, amidst geopolitical economic influences.
Bitcoin has slipped to a notable low, trading at $94,785 after a dip to $92,600 earlier in the day, reflecting a 3.5% decrease. Meanwhile, Ethereum has shown resilience, climbing 1.5% to reach $3,431. The cryptocurrency market faced pressures as $500 million flowed out from spot ETFs, hinting at profit-taking behaviors among investors. Experts predict increased volatility for Bitcoin, particularly with $9.4 billion in options expiring this Friday, which could stir market movement.
The recent fluctuations in Bitcoin’s price are tied to broader market dynamics, including a strengthening US dollar that rose by 0.18%, impacting demand for cryptocurrencies. Economic policies initiated by US President Donald Trump—specifically tariff announcements against imports—have contributed to this volatility. These economic factors, combined with investor sentiment evidenced by the Fear & Greed index, are shaping the current market landscape for cryptocurrencies.
Overall, Bitcoin’s recent downturn highlights the fragility of cryptocurrency markets amid external economic factors and internal trading behaviors. As fear and profit-taking influence market dynamics, investors are urged to watch key resistance and support levels while preparing for potential volatility in the coming days due to massive options expirations and broader economic influences.
Original Source: m.economictimes.com
