Bitcoin renews march towards $100,000, but these 5 speed-breakers slowed its race
FirstpostBitcoin rebounds and restarts journey towards $100,000 but here is a look at 5 reasons why it fell after reaching too close to the historic mark Bitcoin continues to create suspense among investors as it touched $99,830 last week and increasing optimism of soon breaching $100,000-mark for the first time, the cryptocurrency hit an intra-day low of $90,770 on November 27. Bitcoin has soared 120 per cent year-to-date and 42 per cent in November alone, getting a kick from Trump’s pro-crypto campaign promises, including his vision to make the US the “crypto capital of the planet.” What led to the rise? 2 - The broader cryptocurrency market declines as the dollar index rose 0.18 per cent to 107, supported by Trump’s tariff announcements on imports from Canada, Mexico and China. A Reuters report quoted Nick Forster, founder of OnChain options decentralised protocol Derive, as saying that the “call-put skew” index for the December 27 dated Bitcoin expiry showed a major drop of 30 per cent over the past day.