Bitcoin Drops 8%, Altcoins Mixed

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crypto market crash

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Crypto Market Crash: Will It Bounce Back or Keep Falling?

Summary

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73% Informative

Bitcoin drops 8% to $ 91,377 as long-term holders offload $ 60B in profit-taking, mirroring March 2024 peak.

Altcoins see mixed trends: Sandbox ( SAND ) plummets 12% , while Fantom (FTM) surges 13.86% amid Bitcoin 's market consolidation.

$ 11.8B in Bitcoin options expiring Dec. 27 heightens market volatility.

He suggested, “The chances of a prolonged sideways phase for Bitcoin are high, although some altcoins may continue to perform well.” Despite the short-term uncertainty, institutional investors like MicroStrategy remain bullish. Founder Michael Saylor recently announced the company’s purchase of 55,500 BTC at an average price of $ 97,862 , bringing its total holdings to 386,700 BTC. This signals ongoing confidence in Bitcoin ’s long-term potential, even as the market faces challenges..

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Informative language

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formal

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English

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not offensive

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not hateful