Bitcoin fell sharply below $110,000 to $108,890 within 24 hours, reversing from a high near $117,000 last Friday and sliding to around $109,894 over the weekend. The drop intensified after a single holder sold 24,000 BTC, worth over $2.7 billion, which increased selling pressure and market volatility. The Bitcoin Fear and Greed Index sits at 48/100, categorized as neutral but edging toward fear, with scores indicating market sentiment extremes. Network fundamentals remain resilient as Bitcoin's hash rate approaches a near-record daily value of 909,080,589 Th/s, close to its all-time high.
The price of Bitcoin has plunged below $110,000 in the past 24 hours, marking one of its steepest corrections in weeks. According to data from Bitcoin Magazine Pro, the world's largest cryptocurrency dropped to $108,890 and remains below the $110,000 threshold at the time of writing. The decline represents a sharp sell-off from just last Friday, when Bitcoin traded as high as $117,000, before tumbling to $109,894 over the weekend.
The downward momentum was accelerated by a massive whale sale. Over the weekend, a single Bitcoin holder offloaded 24,000 BTC worth more than $2.7 billion, sparking additional selling pressure and driving the price lower. The large transaction caused heightened volatility and weighed heavily on market sentiment.
Meanwhile, underlying network fundamentals remain strong despite price weakness. Bitcoin's hash rate -a measure of the total computational power securing the network-is approaching a new record high. The current daily value stands at 909,080,589 Th/s, just shy of the all-time high of 1,084,828,947 Th
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