Bitcoin Price News: Slips Below $104K, SOL, XRP, SUI Down 3% on Profit-Taking

On November 11, Bitcoin slipped below $104,000 after briefly hitting over $107,000 during overnight trading. The drop comes as traders capitalized on recent price increases. Major cryptocurrencies like Ethereum and Solana also experienced declines, with SOL and XRP down by 3-4%. This downturn is attributed to profit-taking, particularly amidst a cooling AI infrastructure market affecting crypto miners. Specific miners like CleanSpark and Hut 8 saw declines of 8% and nearly 9%, respectively. The weakness in the sector coincided with underwhelming earnings reports, signaling a potential correction in AI-related investments. Additionally, the ADP reported a contraction in the U.S. job market, with private employers cutting approximately 11,250 jobs per week, contributing to the bearish sentiment. With the Federal Reserve indicating a possible interest rate cut, BTC's recent performance fills a noted gap in futures trading, reflecting how traders are reacting to both macroeconomic indicators and internal market movements.

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