CandleFocus Bitcoin Falls to $92,939; as BTC Selling Pressure Mounts
2024-11-27
Author: Content Editor
Bitcoin has experienced a further decline in price, currently trading at $92,939 after a 1.45% drop. It briefly rebounded and surpassed $93,000 earlier. The 24-hour trading volume has increased by 7.36% to $90.88 billion, but the market cap has decreased by 1.54% to $1.84 trillion. Despite being the seventh most valuable asset, Bitcoin faces competition from Saudi Aramco. Technical indicators suggest a potential position correction due to selling pressure. Long-term holders have sold around 507,000 BTC as the price approaches $100,000. Traditional investors are also pulling back from BTC spot ETFs. The decline has impacted Bitcoin's odds on prediction platforms such as Polymarket.
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