The price of Bitcoin has fallen below $101,000 ahead of the US market opening. Let's explore its impact on the market and NEAR Coin.
Bitcoin Price Decline
Bitcoin (BTC) dropped to $100,700 before the US market opens. To sustain a bullish trend, the price must reach the $103,000 mark. Upcoming Federal Reserve minutes might temporarily affect negatively.
NEAR Coin Situation Analysis
Despite BTC’s drop, some altcoins are racing to weekly peaks. NEAR Coin is poised to benefit from potential uplift in the first quarter. Analyst Daan Crypto Trades observed: 'NEAR is maintaining its Daily 200MA/EMA level. It indicates significant consolidation before the next bullish phase. Clearing the ~$8 zone is necessary to reach new all-time highs.'
Future of the Crypto Market
Increased net exchanges could support price declines, although upward movements are noted during negative BTC flows. Analyst Kyle suggests the potential for a breakout: 'Binance’s Netflow SMA14 turned negative, a potential bullish signal.'
Current BTC and cryptocurrency price trends indicate potential shifts in market sentiment. Both NEAR and ETH show possible future movements, warranting close market observation.
