Bitcoin Falls Intraday on Profit-Taking Sell-Off

BTC Slips To $92,000 by Afternoon Sale After Rising
Altcoin Hits Average 2% Fall on Intraday of Apr. 24
Bloomberg "BTC Continues 'Digital Gold' Status"

The cryptocurrency market, including Bitcoin(BTC), fell on an intraday sell-off on Apr. 24.

Earlier on Apr. 23, the cryptocurrency market surged due to U.S. President Trump's comments on easing the trade war and resolving conflicts with the U.S. Federal Reserve(Fed) chairman.

Earlier on Apr. 22, President Trump left a comment saying, "It will be quite low" when asked about imposing tariffs on China during his speech at the Oval Office. On top of that, President Trump also said, "I have no intention of firing him(Powell)," when asked about his relationship with Fed Chairman Jerome Powell, and added, "I hope he will be more active in the idea of lowering interest rates."

The cryptocurrency market, which rose on the 23rd, continued its upward trend until the morning of Apr. 24, but fell due to the profit-taking sell-off that began in the afternoon. A number of altcoins fell about 2%, including Bitcoin falling to $92,000 and Ethereum(ETH) falling about 4.2%.

◇Bitcoin = Bitcoin price is $92,486 at 4:30 p.m. on Apr. 24, 2025. Bitcoin's share(Dominance) stood at 64.36%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 38.79% and 61.21%, according to the on-chain analytics platform Sigbtc.

As Bitcoin showed a trend away from U.S. technology stocks, it was predicted that Bitcoin would continue its status as a "digital gold."

"Bitcoin has begun to show a similar trend to gold, an asset that stands out in an uncertain market, after President Trump announced a plan to impose large-scale tariffs and then overall risky assets declined," Bloomberg said.

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Apr. 24 was ARDON(ARDR), up about 35% on the day alone.

ARDR is an open-source multi-chain BaaS (Blockchain as a Service) platform created by the Zelurida Foundation by improving the existing NXT and is also called NXT 2.0.

The monetary unit is an ARDR token and the main chain token of the Arthur network, used for the creation of new blocks and the payment of governance and transaction fees for network consensus.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered 'greed' phase with 63 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 66.3, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr