On November 24, Bitcoin’s price fell below $96,000, following a record daily realized profit of $443 million, according to CryptoQuant. Later, the price partially recovered to $98,000.
In the derivatives market, the drop triggered liquidations of positions worth $53.8 million. CryptoQuant analysts noted that unrealized profit reached 57%, increasing the likelihood of further price correction. For comparison, this figure peaked at 69% in March 2024.
Experts attribute the price decline to mass profit-taking, driven by expectations of further growth. VanEck reaffirmed its forecast of Bitcoin reaching $180,000, while Bernstein analysts previously highlighted key factors that could push the cryptocurrency’s price to $200,000.
