CandleFocus

Bitcoin Slips Back to $97K; Crypto related Stocks Fall

On December 5, Bitcoin reached a milestone of $100K and an all-time high of $103,551. However, it has since slipped back to $97K due to significant selling pressure. The 24-hour trading volume surged by 97% to $154.08 billion, and the market cap decreased by 1.52% to $1.92 trillion. Technical indicators suggest further corrections may be forthcoming. Traditional investors have capitalized on gains, resulting in an outflow of $51.32 million from US Bitcoin spot ETFs. The Bitcoin plunge has also impacted other crypto-related stocks, such as Coinbase and MicroStrategy.

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