Bitcoin Rebounds to 102000 After Sub-100,000 Dip

Bitcoin has rebounded to around 102,000 after briefly falling below 100,000 for the first time since June, marking a volatile week that has tested investor confidence in the cryptocurrency's ongoing bull market. The largest digital asset by market capitalization dropped more than 8 percent over the past seven days, erasing roughly 20 percent from its record high of 126,000 reached in early October, amid a broader selloff triggered by profit-taking and macroeconomic pressures.

The decline accelerated after Bitcoin breached a key support level at 107,000, which had held for over four months, leading to the liquidation of more than 640 million dollars in long positions within 24 hours. Trading data shows the cryptocurrency hit a five-month low of 98,900 before recovering slightly, with over 1.7 billion dollars in total liquidations across crypto derivatives in the same period. This pullback coincided with weakness in U.S. equities, particularly AI-related stocks, and a strengthening dollar following signals of Federal Reserve indecision on interest rate cuts.

Analysts point to several factors driving the downturn. Geopolitical tensions, including U.S.-China trade frictions, have...