Bitcoin, the world’s most valuable cryptocurrency, has lost 10% of its value in a single day, as bearish trends continue to dominate the crypto market. The decline is attributed to a combination of macroeconomic uncertainties and increased regulatory scrutiny.
The sell-off has triggered a wave of liquidations in the derivatives market, with billions of dollars in leveraged positions being wiped out. “The market is experiencing a classic risk-off scenario,” said one analyst. “Investors are fleeing volatile assets like Bitcoin in favor of safer options.”
Other cryptocurrencies, including Ethereum and Cardano, have also seen significant losses, further amplifying the bearish sentiment. Despite the downturn, some market participants remain optimistic, viewing the drop as a potential buying opportunity.
“Bitcoin has a history of recovering from steep declines,” said a crypto expert. “While the short-term outlook is uncertain, the long-term fundamentals remain strong.”
