Bitcoin Drops Under $100K Amid Market Volatility
Bitcoin’s recent dip below the $100,000 mark has sparked intense conversation in the world of cryptocurrency. The flagship cryptocurrency fell beneath this milestone for the second time in a week, ending Friday morning down 2.7% in 24 hours and losing 9.1% overall in the past seven days. But analysts suggest this decline is more of a ‘mid-cycle shakeout’ than a major trend reversal.
Analysts Weigh In On Bitcoin’s Price Decline
Dean Chen, an analyst at Bitunix, clarified the broader impact of the dip, saying, “Bitcoin’s dip below $100K looks more like a mid-cycle shakeout than a trend reversal. ETF data show a net inflow of roughly $239 million, suggesting capital is still entering the space despite short-term price pressure. The flow profile implies rotation rather than exit—investors are redistributing exposure while maintaining risk appetite.”
Supporting this statement, Thursday brought an optimistic turn as Bitcoin ETFs snapped a six-day streak of outflows by pulling in $239 million. The inflow offers a glimmer of hope for bitcoin enthusiasts, despite ongoing fluctuations caused by macroeconomic factors.
Bonds and Global Markets Impacting Crypto Trends
The volatility in the U.S. bond market has been a key player in Bitcoin’s recent turbulence. Jim Reid, a Deutsche Bank analyst, noted that this instability has influenced global markets.
