Bitcoin Price Forecast: BTC steadies as traders look at Microsoft vote over investment proposal

📆 12/10/2024 6:27 AM
📰 FXStreetNews

⏱ Reading Time:
25 sec. here
6 min. at publisher
📊 Quality Score:
News: 27%
Publisher: 72%

Bitcoin News

Cryptocurrencies,Technical Analysis,ETF

Bitcoin (BTC) hovers around $97,800 on Tuesday after almost a 4% drop on Monday as traders look at the upcoming Microsoft (MSFT) shareholders' vote on Tuesday to add BTC to the balance sheet, a move that, if approved, could catalyze a further rally.

Bitcoin price today: $97,800 Bitcoin price hovers around $97,800 on Tuesday after declining almost 4% on Monday. BTC's recent drop triggered over $1.69 billion in liquidations, including $180 million in BTC alone. Reports highlight Microsoft shareholders' vote on Tuesday to add BTC to the balance sheet, which, if approved, could be a surprise to the topside.

If this magnitude of inflow persists, demand for Bitcoin will increase, leading to a recovery in its price. Total Bitcoin Spot ETF Net inflow chart. Source: Coinglass Moreover, in the same period, MicroStrategy announced that it had acquired21,550 BTC worth $2.1 billion at an average price of $98,783 per Bitcoin. The company currently holds 423,650 BTC, acquired for $25.6 billion at an average price of $60,324 per Bitcoin. MicroStrategy has acquired 21,550 BTC for ~$2.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Price Forecast: $100K breakout or drop to $90K ahead of Microsoft’s BTC investment vote?Bitcoin (BTC) trades slightly lower and hovers below $95,500 on Monday after last week’s minor correction.
Source: FXStreetNews - 🏆 14. / 72 Read more »