قفزة «البتكوين» تدفع العملات الرقمية للتراجع

The cryptocurrency market has witnessed a notable decline, with the total market capitalization dropping by 2.81% to reach $4.21 trillion, while Bitcoin maintained positive weekly gains, indicating that the drop may be a temporary correction after recent increases.

Bitcoin was traded today (Friday) at $121,475.40 after hitting a 24-hour high of $123,739.35 and a low of $119,812.03, with a daily change of 1.48% and a market value of approximately $2.42 trillion, and a daily trading volume of $72.91 billion.

This decline came after Bitcoin recorded a historic peak of $126,198.07 on October 6 before dropping by about 5% at certain moments, influenced by several factors, most notably profit-taking that prompted investors to sell part of their holdings to secure their gains, leading to rapid selling pressure, along with market liquidations amounting to $641 million within 24 hours due to forced selling of futures contracts, in addition to macroeconomic factors represented by the rising value of the US dollar, delays in some financial regulations, and concerns about economic recession that contributed to the increased pace of the decline, according to Bahrain News Agency (BNA).