Bitcoin Falls to $92,000 as U.S. Stock Market Falters in Year-End Profit-Taking Sales

Bitcoin also fell to $92,000 as the U.S. stock market faltered in year-end profit-taking sales. The Bitcoin Spot Exchange Traded Fund (ETF) listed on the U.S. stock market also experienced a large net outflow.

Bitcoin fell below the $92,000 mark on Friday morning as the U.S. stock market faltered in year-end profit-taking sales.

The Bitcoin Spot Exchange Traded Fund (ETF) listed on the U.S. stock market also experienced a large net outflow.

However, MicroStrategy and Tether said they bought a large amount of Bitcoin.

On the 31st, Bitcoin is trading at $92,492, down 1.09% from 24 hours ago, on Binance, the world's largest coin exchange, as of 11:30 a.m. that day.

Bitcoin closed at $92,792, down 1.01% the previous day.

Bitcoin showed high volatility, falling to the $91,000 mark at midnight, rising to $95,000 at 5 o’clock, and falling back to the $91,000 mark at 6 o’clock.

As bitcoin weakened, altcoins were also sluggish.

Ethereum was up 0.16% the day before, while Solana was up 0.76%.

Bitcoin also appears to have fallen as the U.S. stock market weakens.

On the New York Stock Exchange, the Dow Jones fell 418.48 points (0.97%) to 42,573.73.

The S&P 500 index also fell 63.9 points, or 1.07%, to 5,906.94.

The Nasdaq fell 235.25 points, or 1.19%, to close at 19,486.78.

Concerns are growing in some markets that the stock market is losing momentum.

It is pointed out that it will be difficult for Big Tech shares to rise indefinitely without continuous innovation in the artificial intelligence (AI) industry.

In particular, there are concerns that the U.S. domestic economy will inevitably stagnate if tariffs and immigration sanctions begin with the second Trump period.

The Bitcoin spot ETF also had a net outflow of 378.6 million dollars.

There seems to have been no significant net inflow from BlackRock’s IBIT and Invesco’s BTCO, which have not yet been counted.

Recently, net outflows have occurred for two consecutive trading days in Bitcoin spot ETFs.

MicroStrategy, which holds the largest number of Bitcoin by a single company, said Thursday that it has bought 2,138 more Bitcoin.

The average purchase price is $97,837.

According to Michael Saylor, founder of MicroStrategy, the company currently has 446,400 BTC with an average purchase price of $62,428.

According to blockchain analysis company Arkham, USDT’s issuer Tether also bought 7,629 Bitcoin worth about $700 million on the same day.

Tether said it would use up to 15% of its 2023 proceeds to buy Bitcoin.

Tether’s Bitcoin holdings are worth $7.6 billion.