$1 trillion gone in 6 weeks! Is this the big crypto crash everyone feared? Bitcoin dives below $90K - The Economic Times
The global cryptocurrency market has witnessed a sharp downturn, wiping out nearly one trillion dollars in value within six weeks. This steep decline has sparked fresh concerns about whether the long-feared major crypto crash is finally unfolding. Bitcoin, the market’s leading digital asset, slipped below the crucial $90,000 mark, triggering panic among investors and raising doubts about short-term recovery. Analysts attribute the fall to a combination of rising global uncertainty, reduced liquidity, regulatory pressures, and profit-taking after recent highs. Many traders who anticipated a sustained rally are now reassessing their positions as volatility spikes across major tokens. Altcoins have also suffered deep corrections, amplifying fears of a broader market reset. While long-term believers see this as a potential accumulation phase, the immediate sentiment across the market remains cautious. The coming weeks are expected to be crucial as investors wait for clearer signals on price stability.
The Key points
- Crypto market lost nearly $1 trillion in six weeks.
- Bitcoin dropped below the key level of $90,000.
- Investor confidence weakened due to market-wide volatility.
- Regulatory uncertainty added pressure on major cryptocurrencies.
- Liquidity concerns contributed to sharp sell-offs.
- Altcoins experienced heavy declines alongside Bitcoin.
- Analysts warn of a possible extended correction phase.
- Panic selling increased as key support levels broke.
- Long-term investors view the fall as a buying opportunity.
- Market direction in coming weeks remains highly uncertain.
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