JAKARTA - The crypto market has been shaken by a sharp correction. In the last 24 hours, the price of Bitcoin (BTC) has corrected 12.85% to the level of 63,500 US dollars or equivalent to Rp. 1.07 billion, marking the deepest decline since the US election in November 2024.
Based on the analysis of Financial Expert Ajaib, Panji Yudha, this decline is an important moment because for the first time Bitcoin fell below the level of 70,000 US dollars (Rp1.18 billion) since that period.
Panji assessed that this time the correction of cryptocurrencies was also accelerated by negative sentiments in the global stock market, especially concerns about the impact of artificial intelligence (AI) developments on the performance of technology companies.
"Cumulatively, $BTC has now fallen more than 50% from its all-time high of 126,199 US dollars (Rp2.13 trillion) in October last year. This week's crypto correction was accelerated by selling in the stock market due to concerns about the impact of AI on technology companies," Panji said in his statement.
Amid the bearish trend, a number of institutional and major crypto figures have begun to adjust their portfolios. The company associated with Donald Trump, World Liberty Financial, was recorded selling Bitcoin worth 5 million US dollars when the price reached 69,000 US dollars.
Meanwhile, Ethereum founder Vitalik Buterin was observed selling 2,961 ETH worth around 6.6 million US dollars in the last three days. The sale is said to be part of a phased withdrawal plan to support the development of open privacy and hardware technology.
For today's trading, Panji Yudha projected Bitcoin to move in the range of US$62,000-65,000 (Rp1.04 - Rp1.09 billion), while Ethereum (ETH) is expected to move in the range of US$1,800-2,000 (Rp30.3 - Rp33 million).
"Volatility will still be high in the short term, so investors need to be more selective and disciplined in risk management," concluded Panji.
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