Bitcoin in red after hitting $102.5K

WEB DESK: Bitcoin opened Tuesday in the red, recorded at 102,049.30 around 00:16 UTC, marking a drop of $180.3 from its previous close of 102,229.60 on Monday.

However, BTC soon recovered some losses, reaching 102,339.40 at 00:29 UTC, a rise of $109.8.

The cryptocurrency extended its gains, entering positive territory and rising further to 102,589.70 at 00:36 UTC, an increase of $360.1 from the previous close.

Despite this upward trend, BTC couldn’t sustain the gains and slipped to 101,786.10 at 01:30 UTC, losing $443.5.

Bitcoin continued fluctuating and declined to its lowest level of the day at 101,441.90 by 10:57 UTC, a drop of $787.7.

On Monday, Bitcoin rallied, surpassing $100,000 for the first time this year, driven by anticipation surrounding President-Elect Donald Trump’s inauguration.

According to Coinbase data from TradingView, the digital currency surged past $102,700 in the evening, marking a 4 per cent rise in less than 24 hours after trading below $99,000 earlier in the day.

Interestingly, Bitcoin, which hit an all-time high of over $108,000 on December 24, spent the first few days of this year trading below the crucial $100,000 mark.

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