Bitcoin Returns to $44,000 After Market Uncertainty
Bitcoin has once again reached $44,000 following market uncertainty caused by a Matrixport report, according to Coingecko. At the time of writing, Bitcoin is valued at $44,199, representing a 4.1% increase in the last 24 hours and a significant growth of 160.4% from the previous year. Earlier in the week, Bitcoin reached its highest level since April 2022 at $45,913 on January 2.
Bitcoin Drops Nearly 10% Due to SEC Report
Bitcoin experienced a sudden drop of nearly 10% within hours due to a report published by Matrixport stating that the United States SEC will reject Bitcoin Spot ETFs. This report triggered a decrease in price and highlighted the market’s sensitivity to rumors and reports.
Whale Activity and Liquidation on Huobi
In response to the market uncertainty, whale activity was observed with 14.2 million in Bitcoin being liquidated on Huobi, according to Coinglass data.
Altcoins Lead as Bitcoin Is Not Among Top Gainers
While Bitcoin is not listed among today’s top gainers, altcoins like Beam (BEAM) and Celestia (TIA) continue to lead in terms of performance, according to CoinMarketCap.
Hot Take: Bitcoin’s Volatility Continues
The recent market uncertainty surrounding Bitcoin’s price highlights its ongoing volatility. Investors should be prepared for sudden fluctuations triggered by reports and rumors. As altcoins gain traction, it remains crucial for traders to stay informed about market trends and developments to make informed investment decisions.
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