Bitcoin Struggles to Stay Above $100,000 as Powell’s Comments Roil the Market
Posted:
Share this article
-
BTC declines under $100,000 following Powell’s Fed statements, leading to sell-offs and market uncertainty
-
Whale trading surges as investors watch BTC resistance at $105,400 for signs of recovery trends
Bitcoin [BTC],
dropped below the $100,000 threshold on Wednesday evening, December 18, after remarks from Federal Reserve Chairman Jerome Powell.
During a press conference, Powell […] that the Federal Reserve is not allowed to hold bitcoins and does not plan to pursue legislative changes regarding this matter.
[…] a question about a potential U.S. government Bitcoin reserve. Powell responded:
“We are not seeking a change in the law.”
[…]
At that time,[+]
Bitcoin was trading at
$101,292*, experiencing a decline of 2.01% over the past 24 hours and down 0.18% over the past week.
Powell’s remarks fuel market volatility amid FOMC projections
[…]
[…]
Bitcoin has been moving below key levels recently within its bearish framework.
The suggestion points towards either an approach towards
$99K threshold.[/b][/i] Yet Analysts underline that BTC needs upward movement above $105K zone for confirmation against downward outlook![…]
Whale actions reached around
926k BTC on December 16th indicating institutional engagement continues despite current adversity.
[*source referenced here:* IntoTheBlock]
Market Insights: Trading Volume & Flows Analysis
[…]
Coinglass data showcased an increase with volumes hitting new highs around
$150 billion.* Although Open interests seen minor drop now totaled at $67 billion.[-1%].
On Options side increased about one-third (33%) reaching slightly above **$41 billion** up by *0.84%. ]
December’s net flows show notable accumulation patterns maintaining minimal seller pressures pushing traders into cold.
Feel free to update or modify sections as needed while retaining visible formatting adjustments!
