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By Nick Baker|Edited by Nikhilesh De
Updated Dec 5, 2024, 10:55 p.m. UTCPublished Dec 5, 2024, 10:45 p.m. UTC
Bitcoin’s (BTC) price plunged below $94,000 late Thursday in rapid retreat from its newfound all-time high around $100,000.
There was no immediately obvious reason for the drop.
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CoinDesk Indices data, which incorporates prices from several sources, shows bitcoin dropped as low as $93,468.34. Meanwhile, it got to about $90,500 on Binance and $92,000 on Coinbase.
The selling did not spread across the rest of crypto — which is unusual. While bitcoin went into freefall, other tokens didn’t really budge.
Bitcoin then rebounded back above $96,000.
Nick Baker is CoinDesk’s deputy editor-in-chief. He won a Loeb Award for editing CoinDesk’s coverage of FTX’s Sam Bankman-Fried, including Ian Allison’s scoop that caused SBF’s empire to collapse. Before joining in 2022, he worked at Bloomberg News for 16 years as a reporter, editor and manager. Previously, he was a reporter at Dow Jones Newswires, wrote for The Wall Street Journal and earned a journalism degree from Ohio University. He owns more than $1,000 of BTC and SOL.
