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Bitcoin (BTC) Drops Below $100,000 as Economic Data Push Rates Higher
Jan 07, 2025
Bloomberg reported on Bitcoin’s decline below $100,000, triggered by soaring Treasury yields and a broader selloff in U.S. equities. Bob Wallden, Abra’s Head of Trading, attributed the dip to increasing correlation between digital assets and the Nasdaq, as well as profit-taking and stop-loss triggers on fresh crypto longs above $100,000. Despite short-term volatility, Abra continues to monitor market conditions for strategic trading opportunities in the evolving digital asset landscape.
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