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Bitcoin's big stumble 😱
The jubilation from Bitcoin reclaiming six figures has been replaced with shock following a steep drop and $646 million worth of liquidated derivatives contracts.
Stacy Elliott
January 08, 2025
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📝 What you need to know
It was all going so well until it wasn’t.
Late last night the Bitcoin price slid below $100,000 after having only reached it for the first time in 2025 the day before. Then the bad news got worse.
In the past 24 hours, Bitcoin has sunk all the way below $93,000 and hasn’t shown much upward momentum. What gives? To hear analysts tell it, traders didn’t like the look of the Federal Reserve’s latest dot plot.
But clever traders will always find a silver lining. The current volatility is “presenting opportunities for strategic positioning rather than a straightforward bullish trend,” 10x Research’s Markus Thielen wrote.
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