Bitcoin Magazine Bitcoin Price Jumps to $103,000 After Tumultuous Week

Bitcoin price reached $103,500 today after a week of tumultuous trading. Bitcoin started the day down close to $100,000 but rebounded throughout market trading to highs of $103,859 today.

Earlier this week, Bitcoin plunged below $100,000 for the first time since June on November 4.

The slump came amid macro pressures, political headlines, and fading risk appetite, pushing bitcoin down to $99,070 and more than 20% off its October high of $126,000, technically entering a bear phase.

The sell-off follows October’s massive liquidation events, a series of hacks, and trade tensions with China.

The Federal Reserve’s hawkish tone, including a modest rate cut and signals that further cuts may not come, weighed on sentiment.

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