Bitcoin fell below $100,000 following Federal Reserve Chair Powell's comments about Bitcoin ownership restrictions, triggering $700 million in market-wide liquidations and leading to broader cryptocurrency market declines.

Federal Reserve Chairman, Jerome Powell, recently addressed questions concerning the possibility of a Strategic Bitcoin Reserve in a press conference.

The total crypto market cap slipped below $3.6 trillion briefly.

Bitcoin exchange reserves have hit a record low of 2.4 million BTC, down from 3 million in January 2024, coinciding with price appreciation above $104,000 as institutional investors move assets to long-term storage.

Bitcoin's price briefly dropped below $100,000 on Wednesday, hitting a low of $98,839, according to TradingView data.

Meme coins are gaining a lot of global traction, and even surpassed Bitcoin as the most-held cryptos among Binance survey participants.

Here's what on-chain data says regarding which segment of the Bitcoin market has been participating in selling at the latest high prices. 90-Day+ Bitcoin Investors Have Been Showing Activity Recently As pointed out by YouTuber denome in an X post, only one segment of the Bitcoin market is still participating in profit-taking.

Bitcoin's recent surge to its ATH $108 has caught the attention of investors, especially after U.S. President-elect Donald Trump suggested the creation of a national Bitcoin reserve. A major factor driving this surge is the historic drop in exchange reserves, which are now at a record low of 2.4 million BTC.

Bitcoin pulled back considerably on Wednesday after previously raising hopes of price pushing to $110,000.

After Bitcoin hit an ATH in December the concern related to its Bitcoin has always been known for its fixed supply of 21 million coins. This cap is what makes it unique and valuable, setting it apart from traditional currencies that can be printed endlessly.

Bitcoin is projected to reach $200,000 by mid-2025, driven by institutional adoption, technical indicators, and potential national reserve creation, with analysts expecting milder price corrections than in previous cycles.

The broader crypto market has continued its volatile trading today, with Bitcoin price witnessing a major setback. The flagship crypto has recently declined below the $100K level amid massive selling pressure noted in the broader financial market, let alone the digital assets space.

Bitcoin's recent price surge has driven up mining equipment costs, with Shenzhen's Huaqiangbei district—a global hub for crypto hardware—seeing a notable 30% price hike.

The contribution goes to one of the main non-profit organizations that funds the development of Bitcoin Core.

The Federal Reserve has dismissed the possibility of holding a Bitcoin reserve, citing legal and institutional limitations. Fed Chair Jerome Powell reiterated this stance during a routine press conference following the year's final Federal Open Market Committee (FOMC) meeting, where the central bank announced a 25 basis point rate cut.

MicroStrategy co-founder Michael Saylor recently told Bloomberg that the company would overhaul its fundraising strategy to add more "intelligent" leverage.

The situation, however, is much less negative than it might seem, so much so that today a rebound might even be possible.

In a report published on December 17, analysts at cryptocurrency exchange Bitfinex stated that a combination of rising institutional adoption of Bitcoin (BTC) and bullish technical indicators could push the leading cryptocurrency as high as $200,000 by mid-2025. The report also predicts that any price corrections during 2025 are likely to ‘remain mild.

The cost of Ant mining machines in China, developed and produced by Bitmain, has increased 30% from the previous year. The post Bitcoin Surge Drives Cost of Mining Machines in China, More Buyers From Russia appeared first on Cryptonews.

Bitcoin price slipped below $100,000 during late U.S. trading hours but bounced back slightly in early Asian trading on Thursday. Will BTC price drop?

Short-term BTC puts are in demand after hawkish Fed dented the bullish sentiment in risk assets.

Memecoins were also tipped by the survey respondents as a top source of market growth next year, behind AI tokens.

The author of Rich Dad, Poor Dad, Robert Kiyosaki, has urged investors to buy Bitcoin now, saying that crypto will hit $350k by 2025.

Specific requirements of the deal include limiting the public sector's bitcoin purchases, and the wind-down of public bitcoin wallet Chivo.

Online reports revealed Craig Wright skipped his UK court hearing today due to an alleged lack of resources to travel. The Australian computer scientist is facing a contempt of court case over his lawsuit against Bitcoin Core developers and could receive a prison sentence if the claim is proved.

El Salvador secured a $1.4B IMF loan by easing Bitcoin policies, allowing businesses to decline the asset and reduce associated risks. The post El Salvador Eases Bitcoin Push to Unlock $1.4B IMF Loan appeared first on Cryptonews.

XRP and DOGE futures recorded an unusually high $70 million in liquidations, indicative of rising speculative activity in majors.

The Bitcoin price has been surging since the start of the quarter and the U.S. election results offered a huge boost to the rally. With this, the price soared effortlessly and marked highs above $108K, marking a fresh ATH.

Bitcoin briefly dipped below $100,000 after hawkish comments from the US Federal Reserve, with an analyst suggesting its price is forming a bearish pattern on the week.

After the US Federal Reserve announced a 25 bps rate cut on Wednesday, the Bitcoin price came crashing under the $100K level to trigger the broader crypto market crash. The selling pressure was a reaction to the Fed's future monetary policy guidance for 2025 and coming years.

Metaplanet Inc. (Tokyo: 3350), a Japanese company that has earned a huge reputation in the crypto industry through its Bitcoin strategy, has announced its debut in the United States market.

The price of Bitcoin briefly slipped below the $100,000 mark on Wednesday, plunging to as low as $98,839, according to CoinGecko data.

Key Points:

The significant development in cryptocurrency world, President-elect Donald Trump has unveiled a draft executive order for the creation of a U.S. Strategic Bitcoin Reserve (SBR). The order comes after a pivotal meeting with Kris Marszalek, the CEO of Crypto.com, on December 16, 2024, at Mar-a-Lago.

The crypto market is not short of ambitious six-figure Bitcoin targets, and Robert Kiyosaki, the author of the personal finance book Rich Dad Poor Dad, known for years as a Bitcoin bull, remains optimistic about 2025.

Bitcoin's surge past $100,000 has created 14,211 new millionaires and four new billionaires, a new study NFT Evening has revealed. Bitcoin Investors Outshine Blue-Chip Stock Investors According to findings from an NFT Evening study, bitcoin's surge past the $100,000 mark has created 14,211 new millionaires and four new billionaires.

BlackRock's Bitcoin explainer video sparks debate by suggesting the cryptocurrency's 21 million supply cap is not guaranteed, raising questions about its scarcity and value proposition.

The cryptocurrency market witnessed a sharp decline on December 19, as Bitcoin (BTC) plunged below the $100,000 mark following the US Federal Reserve's decision to cut interest rates by 25 basis points.

Key Points:

BlackRock's Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) witnessed a remarkable $860 million surge in just 24 hours. This surge underscores the growing interest from institutional investors in crypto-backed financial products, signaling a major shift in how traditional financial markets are engaging with digital assets.

Grayscale's Bitcoin Mini Trust ETF has attracted over $1 billion in net inflows in 2024, with the total assets under management surpassing $4 billion.

Bitcoin, XRP and Dogecoin saw sharp declines following the Federal Reserve's announcement of a rate cut on Dec. 18, 2024.

Coinbase has successfully fended off a restraining order sought by BiT Global as a California court ruled in favor of the exchange's decision to delist wrapped bitcoin.

The crypto market fell 7.5% as investors shifted from risk assets after the Fed cut rates to 4.25%-4.50%, signaling caution on aggressive future cuts. The post Crypto Market Slumps as Bitcoin Drops Below $100K Following Fed's Rate Cut appeared first on Cryptonews.

The International Monetary Fund (IMF) announced on December 18, 2024, that it has reached a staff-level agreement with El Salvador for a $1.4 billion loan under its Extended Fund Facility (EFF). The agreement is currently at the staff-level stage and requires formal approval by the IMF's Executive Board, expected by early February 2025.

Powell said that the Federal Reserve Act does not allow the central bank to hold Bitcoin, leaving the decision to Congress. The post Fed Chair Jerome Powell Says Central Bank Has Little to Do With Bitcoin Stockpile appeared first on Cryptonews.

Bitcoin eyes $103,000 resistance after rebounding from $99,480 support. Strong buying interest and oversold RSI suggest near-term potential for a rally. The post Strike CEO Predicts Bitcoin Could Skyrocket 870% – Is $1 Million BTC on the Horizon? appeared first on Cryptonews.