Jun 23, 01:45 AM

Bitcoin Briefly Slides Below $100,000 Before Quick Rebound

Bitcoin dipped below the psychologically important $100,000 mark late Sunday before quickly recovering to about $100,700, according to spot-market pricing cited by crypto news outlets. The move follows a month-long pullback that has trimmed roughly 12% from the token’s all-time high set in May. BitMEX co-founder Arthur Hayes said the brief slide was “temporary” and framed it as a response to expectations that central banks will accelerate monetary expansion. “Do you hear that? It’s the money printers revving up to do their patriotic duty,” Hayes wrote, arguing the macro backdrop will reaffirm Bitcoin’s role as a hedge against currency debasement. Separately, Blockstream Chief Executive Officer Adam Back told investors that the current market environment favors shifting from alternative cryptocurrencies into Bitcoin or Bitcoin-linked treasury investments, quipping that “TSRY SZN is the new ALT SZN.” The comments from two high-profile industry figures underline a view within the crypto community that the largest digital asset will remain resilient even as broader risk sentiment wavers.