Bitcoin price plunges below 6-month low. This is why.

Bitcoin has fallen below $100,000 for the first time in several months.

As of publication time on Friday, Bitcoin is hovering around the $94,000 to $97,000 price range. This price point is the lowest Bitcoin has seen since the beginning of May and a major decline from Bitcoin’s all-time high of over $126,000 set early last month.

What’s going on over here?

It is important to note that cryptocurrencies are extremely volatile and can experience unexplained fluctuations depending on many factors. A major factor in this latest Bitcoin decline is the general sentiment about the economy.

there is also a stock market Below Now, and historically, cryptocurrency markets follow Wall Street. Additionally, some analysts are with citing a reference The Federal Reserve is expected to cut rates in December. As a result, institutional buying has slowed in recent weeks.

Crypto whale selloffs are often a significant factor when the crypto market suddenly goes down. However, this time, a lot of holders are reportedly selling not just whales but also Bitcoins.

Long-term Bitcoin holders have sold approximately 815,000 BTC over the past 30 days, the most activity since the beginning of 2024, according to new data from cryptocurrency analytics company CryptoQuant.

Bitcoin has been rising rapidly since the election of President Donald Trump in 2024. The crypto lobby came together to support their campaign, and it paid off. The Trump administration has rolled back crypto regulations, appointed cryptocurrency industry-approved officials, and ended investigations of crypto-related crime. For example, just last month, Trump sorry The founder of cryptocurrency exchange Binance, who was sentenced to prison for money laundering.

However, a relatively small number of people actually participate In cryptocurrency trading. In turn, this means that the activities of long-term holders and crypto whales can really influence the market, and this fact – coupled with that weak market sentiment – ​​is likely what we are seeing right now.