CandleFocus Bitcoin “Buying the Dip” Mentions Surge to 8-Month High as Price Drops to $95K
2024-12-20
Author: Content Editor
Bitcoin experienced a decline, dropping below $96,000 due to macroeconomic factors and profit-taking. The decline accelerated after comments from Federal Reserve officials hinted at slower interest rate reductions in 2025. Despite the drop, discussions on social media about "buying the dip" increased significantly. Large investors have been accumulating Bitcoin during the price correction, but there has also been profit-taking during recent record highs. Bitcoin outflows from exchanges to private wallets have increased, signaling a preference among investors. Blockchain data showed critical support zones below the $100,000 mark, indicating significant demand, but these levels were broken as selling pressure intensified.
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