Bitcoin plummets $5,电报盗号系统免杀破解技术000 in 24 Hours: What does it mean for the cryptocurrency market?

January 8, 2025  18:24

Bitcoin (BTC) has lost more than $5,000 in value in 24 hours, falling below $100,000. This has triggered a chain reaction of price declines in other digital assets, which has attracted the attention of analysts and investors.

Reasons for the fall

According to analysts at Presto Research, the sharp decline in the value of Bitcoin is due to the release of new macroeconomic data in the United States. This data has increased investor concerns about continued inflation and the preservation of high interest rates by the Federal Reserve System (FRS).

An additional factor was the increase in yields in the US Treasury bond market, which has increased caution regarding cryptocurrencies. These events coincided with a fall in the NASDAQ and S&P 500 stock indices, which lost more than 1% in the previous session.

A massive fall in altcoins

Other cryptocurrencies followed Bitcoin. Ethereum (ETH), the second-largest cryptocurrency by market cap, fell more than 8% to $3,330, according to Coinmarketcap.

The biggest losers among altcoins were Hyperliquid (HYPE), Gala (GALA), and Celestia (TIA), which fell by about 16% in a day. The total amount of liquidations in the crypto markets amounted to about $700 million, of which $270 million was accounted for by BTC and ETH.

Expert opinion: where is the market heading?

Experts emphasize that the fall of the cryptocurrency market was caused not only by economic data, but also by the sentiment of participants. Rachel Lucas, an analyst at BTC Markets, noted that traders' expectations regarding a possible cut in Fed interest rates in the near future turned out to be too optimistic.

Bob Walden, head of trading at Abra, pointed to the influence of comments from Fed Chairman Jerome Powell, who reaffirmed a tight monetary policy in December. This undermined investors' hopes for additional relief.

What to expect next?

Since December, Bitcoin has lost more than 11% of its value, starting from a peak of $108,000. The fall coincided with the Fed's statements about continuing the fight against inflation.

Bloomberg experts note that the further dynamics of Bitcoin will depend on a number of factors, including political decisions. In particular, Donald Trump's plans to create a national Bitcoin reserve could significantly affect the market.

However, analysts warn that failure to fulfill his promises in a timely manner could lead to increased volatility.