{"id":45284,"date":"2025-01-14T09:49:43","date_gmt":"2025-01-14T09:49:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-drop-caused-by-profit-taking-and-macroeconomic-conditions\/"},"modified":"2025-01-14T09:49:43","modified_gmt":"2025-01-14T09:49:43","slug":"bitcoin-price-drop-caused-by-profit-taking-and-macroeconomic-conditions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-drop-caused-by-profit-taking-and-macroeconomic-conditions\/","title":{"rendered":"Bitcoin price drop caused by profit-taking and macroeconomic conditions"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/09\/Arthur-Hayes-believes-Bitcoin-will-tap-50K-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">Bitcoin dropped to $89,900 on January 13, its lowest decline in two months<\/li>\n<li aria-level=\"1\">James Toledano, COO at Unity Wallet, said one of the reasons for the drop is profit-taking after Bitcoin hit $108,000 in mid-December<\/li>\n<li aria-level=\"1\">The inauguration of President-elect Donald Trump could spark renewed buying interest, Toledano said<\/li>\n<\/ul>\n<p>Bitcoin fell below $90,000 for the first time in two months, dropping 3.6% in 24 hours as the market experienced selling pressure.<\/p>\n<p>Data from CoinMarketCap shows that <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-analysis-economic-headwinds-push-prices-lower\/\">Bitcoin\u2019s price<\/a> dropped to around $89,900 on January 13. However, at the time of publication, it\u2019s trading over $95,000.<\/p>\n<figure id=\"attachment_261713\" aria-describedby=\"caption-attachment-261713\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"size-full wp-image-261713\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/01\/Bitcoin-89000.jpg\" alt=\"\" width=\"1413\" height=\"762\"\/><figcaption id=\"caption-attachment-261713\" class=\"wp-caption-text\">Bitcoin drops below $89,000. Source: <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a><\/figcaption><\/figure>\n<p>According to James Toledano, COO at Unity Wallet, there are several reasons why Bitcoin\u2019s price fell.<\/p>\n<p>\u201cThe first is profit-taking, after hitting a peak of around $108,300 in mid-December, the market has seen a massive amount of it, particularly following the election of pro-crypto President-elect <a href=\"https:\/\/coinjournal.net\/search\/donald+trump\">Donald Trump<\/a>,\u201d he said to CoinJournal, adding:<\/p>\n<p>\u201cSecondly, while institutional buying has continued contributing to <a href=\"https:\/\/coinjournal.net\/search\/Bitcoin\">Bitcoin<\/a> reserves on exchanges hitting a seven-year low, trading volume remains subdued and this could simply be down to a seasonal slow-down.\u201d<\/p>\n<h2>Macroeconomics weigh on the market<\/h2>\n<p>Recent analysis suggests that bleak economic expectations drive this bearish sentiment. This includes Trump\u2019s tariff plans, the US Federal Reserve\u2019s cautious approach to interest rate cuts, and a strong dollar.<\/p>\n<p>Zach Pandl, head of research at Grayscale Investments, said to <a href=\"https:\/\/www.cnbc.com\/2025\/01\/10\/two-trump-crypto-trades-are-in-conflict-and-could-derail-the-bitcoin-rally.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a> that:<\/p>\n<p>\u201cI would attribute the drawdown in the last two days largely to the market starting to appreciate that not every aspect of the Trump policy agenda is going to be positive for Bitcoin \u2013 and tariffs do introduce some new uncertainty.\u201d<\/p>\n<p>As questions surround Trump\u2019s forthcoming policies, it may have dampened enthusiasm, which can \u201clead to short-term volatility for an already highly volatile asset,\u201d said Toledano.<\/p>\n<p>Some analysts believe Bitcoin can reach between <a href=\"https:\/\/coinjournal.net\/news\/bitfinex-bitcoin-could-hit-200k-by-mid-2025-with-mild-price-corrections\/\">$140,000 and $200,000 by mid-2025<\/a>, so the current price action may appear concerning. Yet, it doesn\u2019t necessarily signal the end of the bull run.<\/p>\n<p>\u201cThe inauguration of President-elect Trump is just seven days away and could be a pivotal moment, with markets anticipating announcements of pro-crypto policies that might spark renewed buying interest,\u201d said Toledano. \u201cInstitutional accumulation, as reflected in falling exchange reserves also supports the view that demand remains strong despite low trading volumes.\u201d<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-drop-caused-by-profit-taking-and-macroeconomic-conditions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin dropped to $89,900 on January 13, its lowest decline in two months James Toledano, COO at Unity Wallet, said one of the reasons for the drop is profit-taking after Bitcoin hit $108,000 in mid-December The inauguration of President-elect Donald Trump [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":45285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45284"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=45284"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/45284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/45285"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=45284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=45284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=45284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}