Bitcoin’s price fell below the critical $99K level, triggering a sell-off that wiped nearly $860 million from the cryptocurrency market in just hours. This drop marks one of the most significant downturns in recent months, leaving investors cautious about the asset’s near-term trajectory. Analysts point to a combination of market over-leverage and heightened macroeconomic uncertainty as key drivers of the decline.
Source – FXStreet
The sudden dip disrupted Bitcoin’s recent rally, which had been fueled by optimism surrounding regulatory developments and institutional adoption. Traders liquidated long positions at an accelerated rate, intensifying the price movement. Despite this setback, some industry experts argue that Bitcoin’s long-term fundamentals remain intact, suggesting the potential for recovery in the coming weeks.
