"Bitcoin price fell sharply on Wednesday, sliding 3.6% at times from an intraday high of $105,316 to a low at $100,803, even as U.S. stocks and gold climbed ahead of the House vote to end the government shutdown. The Dow Jones Industrial Average has 423 points, or 0.8% currently led by gains in Goldman Sachs, JPMorgan Chase, and American Express. The S&P 500 edged up 0.1%, while the Nasdaq slipped 0.3%. Gold rose to over $4,200, and silver traded above $53."
"Bitcoin price's pullback comes as investors rotate toward traditional assets with clearer exposure to economic policy. Analysts suggest profit-taking and lower institutional flows may also be contributing factors. Despite the drop, Bitcoin price may be nearing a short-term bottom. Its Net Unrealized Profit (NUP) ratio, a measure of coins held in profit, fell to 0.476, according to BM Pro data - levels historically associated with market bottoms. Similar readings in 2024 preceded rebounds of 15-25% over the following month."
Bitcoin fell as much as 3.6%, sliding from an intraday high of $105,316 to a low near $100,803 and trading around $101,640 later. U.S. equities showed mixed moves with the Dow up about 423 points, the S&P 500 edging higher, and the Nasdaq slipping; gold rose above $4,200 and silver traded above $53. Investors rotated toward traditional assets amid profit-taking and reduced institutional flows. The Net Unrealized Profit (NUP) ratio dropped to 0.476, a level previously associated with short-term market bottoms and subsequent rebounds. The U.S. House prepared to vote on a bill to end the government shutdown, with President Trump ready to sign. The shutdown caused nearly 900 flight cancellations and continued disruptions to federal services, including SNAP payments, while political tensions and calls for accountability increased.
Read at Bitcoin Magazine
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