Bitcoin Price Drops Near Key Level due to Profit-Taking

Bitcoin’s price took a dip recently as the post-Trump rally hit a pause. Analysts attribute this decline to profit-taking, but many still believe that $100,000 (€95,400) is well within reach.

In the past 24 hours, Bitcoin’s price has dropped by 3.6% to just above $94,000 (€89,000) as of 5.30 am CET. The dip seems to be driven by investors cashing in on their gains as the post-Trump rally faced a roadblock, with no new significant developments to push Bitcoin beyond the crucial $100,000 (€95,400) milestone.

Just last Friday, Bitcoin hit a new high of over $99,000 (€94,400), marking a 46% increase since November 5th, following Trump’s victory in the US election. The surge in Bitcoin prices before and after the election was fueled by market expectations that the Trump administration would be crypto-friendly. During his campaign, the president-elect even pledged to make America a “crypto capital.”