Bitcoin Faces Setbacks as $100K Remains Elusive

Bitcoin experienced a significant pullback after nearing the $100,000 mark, dropping to $91,400 as investors engaged in profit-taking. This decline is part of a broader crypto market downturn, with Bitcoin-related stocks like Coinbase and MicroStrategy also falling. Columbia Business School professor Omid Malekan notes that such volatility is typical for Bitcoin, especially after rapid price increases. The $100,000 level is seen as a psychological barrier, and while Bitcoin's recent surge was fueled by optimism over regulatory changes, it remains up 30% since the recent U.S. election.