Bitcoin Falls Below $100K for First Time Since June Amid Sharp Sell-Off

Bitcoin Falls Below $100K for First Time Since June Amid Sharp Sell-Off

BTC plunges to its lowest level in seven months, dropping nearly 29% from recent highs as market weakness accelerates.

BTC

Fact Check
The assessment is based on the consistency of high-authority, highly relevant sources that support the statement's premise, while the contradictory evidence is from a source with significantly lower authority and relevance.The statement requires two conditions to be true: 1) Bitcoin's price was above $100,000 at some point since June, and 2) it subsequently fell below that level. Multiple high-authority sources strongly support the first condition. A primary crypto exchange price page from Coinbase explicitly mentions a recent all-time high of over $123,000. This directly confirms that Bitcoin's price has surpassed the $100,000 mark. The primary data sources from Yahoo Finance are described as providing the exact historical price data needed to verify the specific price movements and timeline mentioned in the statement. Furthermore, another financial data page from MarketWatch provides context by suggesting a market downturn, which is consistent with a significant price fall.The only piece of contradictory evidence comes from a crypto service's blog post, which is a lower-authority source focused on price predictions, not historical data. It mentions a past all-time high of $93,000, which is directly refuted by the more credible data from the Coinbase exchange. This contradiction is therefore not significant enough to cast serious doubt on the statement.Several sources were deemed irrelevant as they pertained to the price of Copper, the stock of Bitcoin Depot Inc., or quoted prices in a different currency (British Pounds), and were therefore excluded from the assessment.In conclusion, the weight of the evidence from the most credible and relevant sources strongly supports the claim that Bitcoin's price reached well over $100,000 and has since experienced a fall. The provided data sources are sufficient to verify the specific details of this event.
Summary

Bitcoin fell below $90,000 on November 18, its first break under the level in seven months. HTX market data shows the cryptocurrency dropped 5.9% in 24 hours and is down 28.7% from its recent peak. This deepens the ongoing bearish trend that began with a breach of the $100K psychological threshold earlier in November.

Terms & Concepts
  • Simple Moving Average (SMA): A commonly used technical indicator that calculates the average price of an asset over a specified number of periods.
  • Fibonacci Retracement Level: A technical analysis tool used to identify possible support and resistance levels based on the Fibonacci sequence ratios.
  • MACD: The Moving Average Convergence Divergence indicator, used in technical analysis to reveal changes in momentum, strength, and direction of a trend.