Is there a need to panic about the recent drop in Bitcoin price?

Bitcoin Price Drop: Good News or Worry?

The cryptocurrency market is seeing fresh volatility as Bitcoin drops to near $94,000 , but according to analytics firm Santiment , there is no reason to panic.

Big Investors Continue to Collect BTC
Santiment reports that in November 2024 , large investors holding 10 BTC or more accumulated an additional 63,922 BTC , equivalent to about $6.06 billion

This trend, if it continues, could reinforce bullish sentiment and make the drop temporary.

Yesterday, MicroStrategy announced that it had purchased a large amount of Bitcoin, but the price of BTC continued to fall.

The event surprised some analysts, as typically large institutional buying would push prices higher.

Can Bitcoin Surpass $100,000?
The question of whether Bitcoin can hit $100,000 by the end of 2024 remains hot. According to data from Polymarket , the probability of Bitcoin hitting $90,000 first is 48% , while the probability of hitting $100,000 is 52% .

Signals from large investors and market moves suggest sentiment remains positive, but retail traders need to be cautious of sudden moves.