Bitcoin (BTC) $93,746.2 and other leading cryptocurrencies are going through a tough time due to weak macroeconomic data from the US and intense profit taking. The price of Bitcoin dropped by 1.8 percent in the last 24 hours, falling to $91,800. This level corresponds to the largest cryptocurrency falling below the $100,000 threshold for the first time on December 5. Let’s also note that Bitcoin has lost over 14 percent in value since its peak of $108,278 on December 17.
Profit Selling and Macroeconomic Pressures Increase
Ethereum (ETH) 
$3,417.5 It also lost less, falling by 0.7 percent to 3 thousand 320 dollars. However, ETH is trading 17 percent below December peaks and has still not surpassed its record of $4,820 in 2021. solana (SOL), on the other hand, showed a more durable performance than Bitcoin, recording a 0.35 percent increase in the SOL/BTC transaction parity.
Looking at the 20 largest cryptocurrencies, the overall loss is 3.74 percent. Ripple 
$2.1 (XRP) and Stellar 
$0.33574 (XLM) was among the cryptocurrencies with the biggest losses, with 6 percent and 6.3 percent, respectively. Litecoin 
$102.0 (LTC), on the other hand, showed a stronger stance, falling only 1.9 percent.
These declines in the cryptocurrency market Chicago PMI dataIt is associated with the lowest level since May. This indicates that there is a slowdown in the economy. Moreover US Federal ReserveUncertainty about the (Fed’s) interest rate reduction policy also puts pressure on the markets.
High Profit Sales Affect Cryptocurrency Prices
It was observed that investors made heavy profit sales after Bitcoin increased its value by 117 percent during the year. Based on the weekly moving average, sales transactions have exceeded 1.2 billion dollars. While this figure is down from the $4 billion peak on December 11, it is well above normal levels.
Additionally, most of the sales come from investors who hold Bitcoin for a long time. Despite the growth seen in the market throughout the year, a more cautious optimism prevails in the expectations for 2025.
Joe Carlasare“Markets exceeded expectations in 2024, but signs of fatigue showed the need for consolidation,” he said. Carlasare said, “Bitcoin may perform well if the US does not slow down growth in 2025. “But the journey may not be smooth until 2026,” he added.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
