Bitcoin hovers around $97,800 as Microsoft prepares for a shareholder vote on adding BTC to its balance sheet. Altcoins like LTC, CRV, and ONDO recover after testing support levels. However, the broader crypto market faces a 4% decline, following Bitcoin’s inability to sustain the $100K threshold and significant liquidations in memecoins.

On December 10, Bitcoin (BTC) remained stable at approximately $97,800 following a nearly 4% decline the previous day. This fluctuation in price comes as traders focus their attention on the imminent vote by Microsoft shareholders concerning the potential integration of Bitcoin into their balance sheet, a decision that could significantly impact market dynamics and prompt a price rally.

In addition, several altcoins, including Litecoin (LTC), Curve DAO (CRV), and Ondo (ONDO), have experienced a rebound after testing critical support levels, suggesting a positive shift in momentum based on technical indicators like the Moving Average Convergence Divergence (MACD).

Despite these recoveries, the broader cryptocurrency market has seen a 4% decline in market capitalization over the past 24 hours, settling at approximately $3.4 trillion, primarily due to Bitcoin’s failure to maintain its position above the $100,000 mark. This inability to achieve upward momentum has led to uncertainty among investors interested in smaller and more volatile cryptocurrencies.

As the market continues to react to recent events, it is worth noting the liquidations caused by market volatility, particularly impacting Dogecoin (DOGE) and Shiba Inu (SHIB) which saw over $108 million wiped out amid sharp declines. Furthermore, SEC Commissioner Caroline Crenshaw’s upcoming renomination faces significant scrutiny from the crypto community, reflecting the ongoing contention surrounding regulatory attitudes towards cryptocurrency investments.

As Bitcoin seeks to stabilize after its recent volatile movements, particularly surrounding its brief breach of the $100,000 threshold, it is imperative for investors to remain vigilant and conduct thorough research prior to engaging in any trading activities. The overall sentiment appears to be cautious as market participants evaluate both potential opportunities and inherent risks.

The cryptocurrency market remains volatile, with Bitcoin as a focal point amid significant corporate interest, particularly from large technology firms such as Microsoft. Recent events surrounding Bitcoin’s price fluctuations—especially its struggles to maintain a position above the crucial $100K mark—have amplified market cautiousness. The upcoming decisions by significant stakeholders and regulatory bodies are pivotal, influencing market sentiments and investor confidence. Additionally, altcoins are experiencing substantial market activity, indicative of a recovery trend after hitting key support levels following considerable declines.

In summary, the cryptocurrency market is experiencing fluctuations characterized by the stabilizing Bitcoin price, significant interest from institutional investors, and the impending influential decisions from corporate stakeholders. Furthermore, the altcoin market shows signs of recovery post-correction. However, market volatility remains high, and investors must navigate risks carefully while considering potential opportunities for growth in their investment strategies.

Original Source: www.fxstreet.com

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