Bitcoin Dances Around $79,000 Amid Geopolitical Tensions

Bitcoin's price hovered near $79,000 after an early dip to $78,327 on September 9. The cryptocurrency quickly recovered some of its losses to trade above $78,913, a gain of 0.13% over the past 24 hours and 1.83% in a week.

The price movement was influenced by US interest-rate expectations and geopolitical tensions, which have affected broader risk assets. However, despite the pullback, market conditions remain relatively healthy, according to analysts.

Prateek Gupta, Head of Business at Mudrex, noted that 71% of Bitcoin's supply is still in profit, a level that has historically coincided with transitions from bear to bull markets.