Bitcoin Price Drops Below $96,000 Mark, Reaching a Weekly Low of $95,135

Analysts attribute the recent price swings to investors taking profits from Bitcoin's rapid rise amid growing global economic uncertainty.

Bitcoin price dropped below the $96,000 level on Sunday, December 22, hitting a weekly low of $95,135.

The recent price fluctuations are being linked by analysts to investors cashing out profits from Bitcoin's rapid rise against a backdrop of worsening global economic uncertainty.

Bitcoin hit an intraday low of $95,135

The cut could come after Federal Reserve Chair Jerome Powell announced that rate hikes will slow in 2025. Additionally, Powell highlighted that the U.S. central bank is barred from holding Bitcoin as a reserve asset. Since his remarks last week, Bitcoin has dropped over 11% from its Dec. 17 peak of $108,364.

Despite the current downturn, experts remain bullish on Bitcoin's future prospects. Some projections anticipate BTC rising to new highs of $150,000 or more by 2025, driven by growing institutional interest and favorable regulatory policies under the Trump administration.

Meanwhile, Sunday's price drop triggered $258.26 million in liquidations on derivatives markets, including $30.12 million in long Bitcoin positions.

Some crypto market participants view the decline as a healthy correction within a broader uptrend, urging caution.