The post Bitcoin Price Today: Key Factors Behind the $100K Setback appeared first on Coinpedia Fintech News December 5 was a big day for the cryptocurrency market; it was on that day that the market achieved the milestone of $100K . Unfortunately, the market could not stay above the range for long; at the time of close on December 5, the market plummeted to $96,902.91. Although between December 6 and 8, the market witnessed a growth of 4.2%, pushing the price again above the $100K range, in the next couple of days, the market saw the price sharply dropping by at least 4.4%. The market has not yet recovered from the fall. Let’s example what’s holding BTC back, and whether the market can break past $100,000 sustainably. Liquidity Inflows Slow Down Among the two key reasons that are holding Bitcoin back, the primary one is liquidity. Reports say that inflows from stablecoins, BTC ETFs and futures markets have reduced considerably in the last 30 days. The Liquidity Impulse chart shows that inflows have sharply dropped from $15 billion to $7 billion. Strong activity in channels, including stablecoins, BTC ETFs and futures, is necessary for the growth of Bitcoin. Want to know where Bitcoin is heading next? Read Bitcoin Price Prediction to uncover expert insights and potential market trends! Nvidia’s Impact on Bitcoin’s Price Secondly, since December 5, the price of NVIDIA Corporation has slipped by over 6.8%. Experts claim that there is a strong correlation between NVIDIA and Bitcoin. Last year, both BTC and NVDA showed impressive performance; the NVDA market grew by approximately 245.53%, while the BTC market surged by over 155.4%. This year, also, NVIDIA has outperformed Bitcoin . The NVIDIA market has raisen over 180% so far, while Bitcoin has grown just a little more than 130%. Although in November 2024, Bitcoin demonstrated an impressive growth of 37.4% – the highest monthly return since February, it was a miserable period for NVIDIA, which could only secure a minor growth of 2.68%. This month, the NVDA market opened at $138.67. Between December 3 and 4, it climbed from $138.22 to a peak of over $145.13. Since then, it has dropped by 6.89%. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Altcoin Market Drops 30%: Here’s What Traders Should Do Now , Future Prospects for the Bitcoin Market There is a high chance that Bitcoin could break above the $100,000 level again in the near future. 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updateSubscriptionButton(); } } }); FAQs What is Bitcoin’s price prediction today? The BTC price may range between $95,500 and $102,000 for the next 24 hours. What is the Bitcoin price prediction for tomorrow? If the bullish sentiment sustains, the star crypto may continue gaining value tomorrow. What is the Bitcoin price prediction for this month? With a potential surge, the Bitcoin (BTC) price may close the month with a high of $110,000. How much will $1 Bitcoin be worth in 2030? In 2030, the price of 1 Bitcoin could reach a height of $610,646.
