Quick overview

Live BTC/USD Chart

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Bitcoin lost all gains from its Friday rally and dropped to $110.5K, the lowest it has been since July 10. It was last trading around $ 113,000, down nearly 1%.

The flagship cryptocurrency reached its most recent high of $124,496 this month.

BTC soared along with the rest of the market after Federal Reserve Chair Jerome Powell alluded to upcoming rate cuts, and investors resumed taking on more risk.

Bitcoin gained 4 percent, while ether surged 15 percent.  Ethereum has been leading the cryptocurrency market for several weeks rather than Bitcoin because of regulatory tailwinds, increased interest in stablecoins, and mass purchases by a new generation of corporate ether accumulators,

Millions of dollars in capital that had previously been locked out of the markets flooded into the space on Saturday after Bitmine Immersion Technologies approved ETFs for January 2024.

Whether Bitcoin will continue to follow its usual four-year cycle is one of the most heated debates in the industry. Experts from all perspectives have contributed, and Crypto X is filled with interesting opinions (as usual). When Bitcoin hit a new high ahead of the halving last year, after the approval of spot Bitcoin ETFs, this has led some observers and analysts to conclude that Bitcoin has completed its typical cycle, where it reaches a peak the year after halving and then drops by 70–80% the following year.