Bitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000

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Bitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000

Bloomberg2023-12-11

Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble ...

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GabbieTeo
·2023-12-11
Buy the dip!
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nywles
·2023-12-11
Thanks
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A gauge of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22.</p><p>Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies.</p><p style=\"text-align: start;\">“Market leverage had risen materially,” said Sydney-based Richard Galvin, co-founder at Digital Asset Capital Management. “The current fall looks like a market deleveraging as opposed to any fundamental news catalyst.”</p><p style=\"text-align: start;\">Investors are also braced this week for US inflation data and the Fed’s final policy meeting of 2023, both of which could test aggressive wagers on rate cuts.</p><p style=\"text-align: start;\">“It makes sense to see some profit taking,” said Tony Sycamore, a market analyst at IG Australia Pty. He expects falls toward the $40,000 to $37,500 range to be “well-supported” by dip buyers.</p><p style=\"text-align: start;\">Bitcoin has jumped more than 150% this year, energizing a wider digital-asset recovery from last year’s rout. But the token remains well below its 2021 pandemic-era record high of nearly $69,000.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-11 11:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTC":"Grayscale Bitcoin Mini Trust"},"source_url":"https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150912944","content_text":"Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble toward $40,000 amid a broader crypto selloff.The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 4% lower at $42,095 as of 11:12 a.m. in Singapore on Monday.Smaller tokens like Ether, XRP, Polkadot and Avalanche also fell. A gauge of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22.Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies.“Market leverage had risen materially,” said Sydney-based Richard Galvin, co-founder at Digital Asset Capital Management. “The current fall looks like a market deleveraging as opposed to any fundamental news catalyst.”Investors are also braced this week for US inflation data and the Fed’s final policy meeting of 2023, both of which could test aggressive wagers on rate cuts.“It makes sense to see some profit taking,” said Tony Sycamore, a market analyst at IG Australia Pty. He expects falls toward the $40,000 to $37,500 range to be “well-supported” by dip buyers.Bitcoin has jumped more than 150% this year, energizing a wider digital-asset recovery from last year’s rout. But the token remains well below its 2021 pandemic-era record high of nearly $69,000.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":250919932743896,"gmtCreate":1702268063787,"gmtModify":1702268067475,"author":{"id":"3555362771681553","authorId":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3555362771681553","authorIdStr":"3555362771681553"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/250919932743896","repostId":1150912944,"repostType":2,"repost":{"id":"1150912944","kind":"news","pubTimestamp":1702266031,"share":"https://ttm.financial/m/news/1150912944?lang=&edition=fundamental","pubTime":"2023-12-11 11:40","market":"us","language":"en","title":"Bitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1150912944","media":"Bloomberg","summary":"Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble t","content":"<html><head></head><body><ul style=\"\"><li><p>Crypto starts the week on back foot ahead of Fed rate meeting</p></li><li><p>Market’s 2023 surge raised risk of speculators taking profits</p></li></ul><p>Bitcoin delivered another bout of its notorious volatility in a sharp tumble toward $40,000 amid a broader crypto selloff.</p><p style=\"text-align: start;\">The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 4% lower at $42,095 as of 11:12 a.m. in Singapore on Monday.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c956115120aa58d2660b395de57c0608\" alt=\"\" title=\"\" tg-width=\"1200\" tg-height=\"675\"/></p><p style=\"text-align: start;\">Smaller tokens like Ether, XRP, Polkadot and Avalanche also fell. A gauge of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22.</p><p>Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies.</p><p style=\"text-align: start;\">“Market leverage had risen materially,” said Sydney-based Richard Galvin, co-founder at Digital Asset Capital Management. “The current fall looks like a market deleveraging as opposed to any fundamental news catalyst.”</p><p style=\"text-align: start;\">Investors are also braced this week for US inflation data and the Fed’s final policy meeting of 2023, both of which could test aggressive wagers on rate cuts.</p><p style=\"text-align: start;\">“It makes sense to see some profit taking,” said Tony Sycamore, a market analyst at IG Australia Pty. He expects falls toward the $40,000 to $37,500 range to be “well-supported” by dip buyers.</p><p style=\"text-align: start;\">Bitcoin has jumped more than 150% this year, energizing a wider digital-asset recovery from last year’s rout. But the token remains well below its 2021 pandemic-era record high of nearly $69,000.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin's 2023 Rally Wobbles in Sudden 7.5% Drop Toward $40,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-11 11:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BTC":"Grayscale Bitcoin Mini Trust"},"source_url":"https://www.bloomberg.com/news/articles/2023-12-11/bitcoin-drops-below-41-000-as-part-of-a-wider-crypto-selloff?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150912944","content_text":"Crypto starts the week on back foot ahead of Fed rate meetingMarket’s 2023 surge raised risk of speculators taking profitsBitcoin delivered another bout of its notorious volatility in a sharp tumble toward $40,000 amid a broader crypto selloff.The largest token sank as much as 7.5% to $40,521 before paring some of the losses to trade 4% lower at $42,095 as of 11:12 a.m. in Singapore on Monday.Smaller tokens like Ether, XRP, Polkadot and Avalanche also fell. A gauge of the largest 100 digital assets shed about 4%, the largest drop since Nov. 22.Bitcoin has been on a tear this year on expectations that regulators will allow the first US spot Bitcoin exchange-traded funds, widening the potential base of crypto investors. Bets that the Federal Reserve will cut interest rates next year also encouraged a rally in virtual currencies.“Market leverage had risen materially,” said Sydney-based Richard Galvin, co-founder at Digital Asset Capital Management. “The current fall looks like a market deleveraging as opposed to any fundamental news catalyst.”Investors are also braced this week for US inflation data and the Fed’s final policy meeting of 2023, both of which could test aggressive wagers on rate cuts.“It makes sense to see some profit taking,” said Tony Sycamore, a market analyst at IG Australia Pty. He expects falls toward the $40,000 to $37,500 range to be “well-supported” by dip buyers.Bitcoin has jumped more than 150% this year, energizing a wider digital-asset recovery from last year’s rout. But the token remains well below its 2021 pandemic-era record high of nearly $69,000.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":8,"commentSize":2,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}