Bitcoin Slides Below $100k, Down 22% from All-Time High — WSJ
By Vicky Ge HuangBitcoin slid below $100,000 on Thursday, weighed down by macroeconomic uncertainty and selling pressure from long-term holders.The largest cryptocurrency traded at $98,076 as of 4 p.m. ET, its lowest 4 p.m. level since May, according to Dow Jones Market Data. It was down about 22% from its recent peak of more than $126,000 in early October.Crypto stocks mirrored the decline in bitcoin and tech stocks. Shares of bitcoin-accumulation firm Strategy closed down more than 7%. Crypto exchange Coinbase Global fell about 6.9%, while stablecoin company Circle Internet Group dropped about 4.6%.Analysts said the decline is partly driven by lowering expectations for a December interest-rate cut by the Federal Reserve.Meanwhile, long-term holders of bitcoin have also added downward pressure on the token's price by selling a total of about 815,000 bitcoin in the past 30 days, the highest level since January 2024, according to data provider CryptoQuant.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).