Bitcoin's market dynamics are in a fascinating state of flux as it dances around the $100,000 mark. Despite hitting this milestone multiple times, the cryptocurrency hasn't managed to firmly establish it as a level of support or resistance. The market's strength, however, is evident in the consistent rebound of prices even when Bitcoin dips below $100,000. Declining exchange reserves, a testament to long-term confidence, contrast sharply with short-term surges in netflows back to exchanges. Yet, what's keeping Bitcoin's price buoyed amidst these fluctuations? Discover the underpinning force in the CryptoSlate Alpha insights...
Bitcoin holds steady near $100,000 as selling pressure is absorbed Bitcoin holds steady near $100,000 as selling pressure is absorbed
Despite significant profit-taking, robust demand Bitcoin hovering near the $100,000 mark.
3 min read
Updated: Dec. 10, 2024 at 10:18 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
