Bitcoin has fallen to $96 000

Anne Stepanovich

Author

Jan 8 | 10:58

2 min

After a rapid rise, the price of Bitcoin has quickly dropped to $96,000 in just one day, with the cryptocurrency losing 6% in value over the last 24 hours. The relevant data was provided by the TradingView platform.

As of January 8, BTC is trading at $95,500 with a market capitalization of $1.89 trillion.

According to analyst Min Chong from Presto Research, the broader markets are currently showing a decline amid macroeconomic concerns about persistent inflation.

"Not only cryptocurrency but also Nasdaq and S&P 500 have fallen by more than 1%. This is due to concerns about inflation after ISM showed faster-than-expected growth in the US economy. This has heightened fears about sustained inflation, leading to a rise in bond yields, with 10-year Treasury securities reaching their highest level since April," he added.

Recall that on January 6, Bitcoin surpassed the $100,000 mark, which it first reached on December 5, 2024.