Bitcoin is experiencing significant selling pressure. On Thursday, its price fell 3.45% to below $41,000, extending Bitcoin’s weekly losses to more than 10%. At the same time, the daily minimum was $40,631.
The negative dynamics of Bitcoin affected the shares of cryptocurrency-related companies. Coinbase and MicroStrategy ended the trading day down 7% and 2%, respectively. Miners CleanSpark and Marathon Digital each lost more than 6%, Riot Platforms fell 5%, and Iris Energy fell 8%. Experts note that the unrealized profit of short-term Bitcoin holders in December was 48%, and this week it dropped to 16%. It is possible that the minimum quote value will be reached when the indicator is below 0%. Short-term traders and large holders of bitcoins are selling assets in significant volumes to reduce risks.
Perhaps this is just the beginning of the negative first quarter of the year – according to one forecast, the Bitcoin correction after the launch of the ETF could end at $36,000. Since the beginning of the year, Bitcoin has lost 3%; at the end of 2023 – increased by 157%.
