Bitcoin has dropped to below six figures in price for the very first time since a full week. It’s a great time to visit.
BTC recovered to $102,000 on Monday morning, after falling below $98,000 for several hours. At 2pm ET, the asset traded at around $94,400.
We know that prices fluctuate. Identifying the key factors can help new investors and existing ones gain a deeper understanding of this asset class.
Ledn CIO John Glover admitted on Friday that the executive order of President Donald Trump was sufficient to prevent BTC from being sold off after it reached an all-time record high around $109,000. But he argued there are plenty of market participants looking to take profit — or swap their BTC for other assets that’ve underperformed since Trump’s election win.
Bitfinex analysts also noted the high correlation between bitcoins and equity prices. “remains one of the most reliable market dynamics.”
They explained the 30-day rolling Pearson correlation between BTC, the S&P 500 and the Nasdaq reached 0.7 — “highlighting a trend that isnʼt just coincidental but indicative of how bitcoin is increasingly treated like a risk-on major asset class.”
The Bitfinex analysts have noted that BTC is a cryptocurrency. “reacted with caution” After last week’s Bank of Japan interest rate increase and sharply dropped due “jitters” stemming from Chinaʼs ability to produce cheaper AI models through startup DeepSeek.
They added that the implied volatility of Bitcoin options fell by 13% in the last week. “suggesting traders are not expecting to see elevated price action.”
However, the signals are still bullish. The latest crypto executive order and the end of SAB 121, sure — but also ongoing institutional investment into bitcoin ETFs, companies buying BTC, etc.
After just over a year of being on the market, US BTC Spot products almost reached $40 billion worth of net flows last week.
MicroStrategy keeps on buying bitcoins in large quantities (scroll up for more information) and other firms (such as Critical Metals Corp. who have a $500,000,000 plan to acquire BTCs) are considering similar deals.
Blockworks’ David Canellis pointed out that today marks day 799 of a bull market that — if history repeats — could last about 1,000 days.
While corrections are normal within bull markets, Two Prime Digital Assets has observed more sophisticated market participants pulling volatility out of the market through long-term investing behavior and derivatives strategies — going as far to coin a term: “The Silent Put.”
“In short, a new cadre of bidders, including governments and corporate balance sheets, are willing to buy the dip without getting shaken out,” The firm has written on X.
Glover stated in a statement on Friday that he still expects BTC to reach $126,000 within the next two month. This could indicate a short-term peak. “those looking to lock in profits battling with those bulls that are late to the party,” He added.
Glover said that his opinion has not changed since the correction.
I was told he is expecting “lots of directionless volatility” As we listen to various government levels (and the Central Bank) about how (or not) Trump’s promises can be immediately implemented.
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