Cryptocurrencies
Bitcoin Stabilizes Just Below $100,000 After Short-Lived Dive
- Speculators seek protection after a record-breaking rally
- eToro’s Josh Gilbert says profit-taking is to be expected
Bitcoin stabilized just below the $100,000 level it topped for the first time this week after briefly diving almost 7% earlier in the day, underscoring rising volatility following the past month’s rally.
The digital asset fell as low as $92,144 before rebounding to around $99,500 as of 11:15 a.m. in New York. Ether, the second largest cryptocurrency, surpassed the $4,000 mark for the first time since March. Volatility has plagued the wider crypto market amid a hiatus in a rally fueled by President-elect Donald Trump’s embrace of the sector.