Today it is a battlefield on the cryptomarket. The value of Bitcoin (BTC) has shrunk to the lowest level since mid -November. That means that all the bitcoins that were then purchased are now at a loss. And that turns out to be a lot, which further increases the pressure for a possible further decline.
12% of BTC addresses in red
When Bitcoin dooked this morning under the $ 90,000 border, Intothlock wrote on social media platform X that at that time roughly 12% of all Bitcoin-Wallet addresses recorded a loss. That was the highest unrealized loss percentage since October.
At that time, Bitcoin was still for sale for just over $ 60,000 each and the market in tension awaited the US presidential election. When Donald Trump ran away with the victory, the Bitcoin course shot up the air like a rocket to over $ 100,000. Although the price is still a lot higher than at the time of the elections (around $ 67,000), the loss percentage is now higher.
That is of course not surprising. When it became known that Trump would become the successor of Joe Biden, investors went massively Bitcoins. Trump would create a national Bitcoin reserve and promised a golden age for the crypto industry.
After a little more than a month under the new Trump administration, it is clear that he indeed has the best with the industry. But it is still uncertain whether a Bitcoin reserve will come. And thanks to him, the races have fallen rapidly due to the trade war he ways.
BTC course arrived at an important point
Just before noon, Bitcoin reached his low of $ 86,900. Bitcoin has been a bit more resolved there and now the race has been moving around $ 89,000 for a while. Although a strong recovery is not for the time being, it is a positive sign that the course persists above the level of support of $ 87,000.
It becomes interesting to see how the course will react when the American stock exchanges open. That happens at 3:30 PM Dutch time and has recently often pushed the rates down.
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Source: https://newsbit.nl/pijnlijke-dag-voor-bitcoiners-crash-zet-velen-op-verlies/
