Bitcoin ( BTC-USD ) is on course to fall 3.5% on a weekly basis, as the selloff intensified in the period. The cryptocurrency reclaimed its $100K mark on Monday, as it rode the wave of a broad upswing across risk assets. However, BTC could not sustain the climb, and fell away from the threshold. Bitcoin ( BTC-USD ) fell below the $100K threshold on Tuesday after stronger-than-expected U.S. economic data led investors to further scale back their expectations for interest-rate reductions by the Federal Reserve. On Thursday, the selloff became stronger and Bitcoin ( BTC-USD ) along with other high-profile crypto assets slumped such as DOGE and SHIBA INU, as macro jitters mounted and the surge in global bond yields reflecting concerns about upside risks to inflation. "Market volatility is expected to stay low until NFP on Friday, which should officially kick-start the new trading year with decision makers fully back at work. The highest volatility event for the month is priced to be FOMC at the end of the month as the economic stats are priced to show 'soft landing' signs in the near future," said Augustine Fan, Head of Insights, SOFA. The demand for Bitcoin is manifesting itself, said Jeff Mei, COO at BTSE, adding, "Now that traders have wrapped up their vacations and are back to work, they've resumed purchases of Bitcoin, crypto, and stocks in a bullish trend as we approach Donald Trump's inauguration. However, there might be more silver lining, as Bernstein predicted in a recent note that the price of Bitcoin ( BTC-USD ) is set for another triple-digit surge this year, dubbing 2025 the "Infinity Age" of the cryptocurrency space. "Bitcoin's price is projected to range between $70,000 and $150,000 in 2025, with extreme volatility expected due to market dynamics and geopolitical shifts," SA contributor Florian Grummes said. Any turmoil in the stock markets will put Bitcoin prices at very high risk as Bitcoin is more closely correlated with US stock markets than ever before, Grummes added. Other Notable News Cathie Wood , CEO, and CIO of Ark Invest and longtime bitcoin ( BTC-USD ) advocate, has sold over 36K shares of ARK 21Shares Bitcoin ETF ( ARKB ), her bitcoin-backed exchange traded fund, to start off 2025. HIVE Digital Technologies ( HIVE ) said it mined 103 Bitcoins ( BTC-USD ) in December, the same as last month. Hut 8 ( HUT ) saw Wall Street analysts reiterate their bullish stance on the vertically integrated operator of energy infrastructure and Bitcoin ( BTC-USD ) miners after securing approval for a data center project. MicroStrategy's ( MSTR ) weekly bitcoin buying binge continued as it added another $101M worth of Bitcoin ( BTC-USD ) during the two days ended 2024 Riot Platforms ( RIOT ) produced 516 bitcoins in December, up 4% from 495 Bitcoins produced in November, but down 17% from 619 bitcoins produced in December 2023. Strive Asset Management , co-founded by Trump ally Vivek Ramaswamy, has filed for a Bitcoin ( BTC-USD ) bond ETF focused on convertible securities issued by MicroStrategy ( MSTR ) or other companies that will invest all or most of the proceeds to buy the cryptocurrency. Moves of other cryptocurrencies Bitcoin ( BTC-USD ) rose 1.6% to $94.8K as at 2:19 pm on Friday. Ether ( ETH-USD ) was up 0.3% to $3.3K, while DOGE ( DOGE-USD ) up 2.9% to $0.33. More on crypto Bitcoin: 2025 Will Be A Pivotal Year - Why You Should Be In A Call To Be Cautiously Bullish In 2025: Key Concerns Around Bitcoin's Emerging Reversal Pattern Bitcoin selloff deepens, wiping out early-2025 advance Cathie Wood sells 36K shares of her own bitcoin-backed ARKB to start off 2025
