Bitcoin Price Follows Nasdaq 100’s Performance, Bitcoin Expected to Reach $90K

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Latest Updates

  • Bitcoin’s price movements are closely tracking those of the Nasdaq.
  • To maintain market buoyancy, Bitcoin needs to surge near the halving period.
  • The current market value of Bitcoin is $65,974.5, with a daily trading volume of $29.9 billion.

Over the last few days, Bitcoin’s price has been fluctuating as it approaches the halving event. Interestingly, its trajectory seems to mirror that of the Nasdaq 100. For Bitcoin to continue on this path, its price must exceed $69,000 to sustain the upward momentum.

Bitcoin Emulating Nasdaq

Analysts have observed a strong correlation between the price swings of Bitcoin and the Nasdaq. Bitcoin’s price needs to reach beyond $69,000 to validate this trend, indicating a heightened risk tolerance among investors. To support market stability, Bitcoin’s surge should coincide with the halving period.

Bitcoin Price Decline

The recent drop in Bitcoin’s price has had repercussions across the cryptocurrency market. As Bitcoin gears up for its fourth halving, market sentiment anticipates a bull run post-event. Bitcoin has seen a gradual rise over the past three months, hitting record highs, with recent values hovering around $70,000. Before the halving, Bitcoin is undergoing a correction phase before the anticipated bull run.

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Other cryptocurrencies are also affected by Bitcoin’s decline, with Ethereum dropping below $3500 and the overall cryptocurrency market value decreasing by 7%.

Price corrections before halving events are typical, historically leading to sustained bull runs post-halving. Watching Bitcoin’s dominance in the crypto market unfold promises excitement.

Current Bitcoin Price

At present, the live price of Bitcoin stands at $65,974.5, with a daily trading volume of $29.9 billion. Bitcoin (BTC) is trading in the $66K-$64K range, registering a 1.12% surge in the last 24 hours. Bitcoin’s current market capitalization is $1.3 trillion.

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