Why Bitcoin Price Dropped Below $100K? 📉
Bitcoin's price experienced a significant fluctuation recently, teasing above the $100k mark only to drop approximately 10% shortly afterwards. The downturn saw the cryptocurrency nearly retesting the support level slightly above $92k.
On Friday, December 6, during the early Asian trading session, Bitcoin was observed trading around $97,680. This development hints that the previous breakout above the $100,000 level was a false signal or a 'fakeout' in the market.
The sudden change in Bitcoin's value highlights the volatility often associated with the cryptocurrency markets, where large fluctuations can occur in short timeframes. This volatility underpins the importance of understanding market support levels.
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