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The crypto market is experiencing a major sell-off, with its total market cap plunging to $2.67 trillion, down from over $3 trillion just days ago. In the past 24 hours alone, the market has lost over 7% in value, sending shockwaves across the industry.
Bitcoin Price Takes a Big Hit
Bitcoin, the largest cryptocurrency, has dropped to $80,000, a key support level that could determine its next move. In just the past 24 hours, BTC has lost over 7%, and in the last week, it's down nearly 20%. Investors are closely watching to see if Bitcoin can hold this level or if further declines are imminent.
BTC/USDT 1-day chart - Bitget
Bitcoin Price Prediction: What’s Next for Bitcoin?
If Bitcoin breaks below the crucial $80,000 support, it could trigger another wave of selling pressure, with potential downside targets at:
- $75,000
- $73,000
- $68,000
These levels will be critical in determining whether Bitcoin can stabilize or if the bearish trend will continue.
BTC/USDT 1-day chart - Bitget
Market Uncertainty Remains High
With the broader crypto market also taking a hit, investor sentiment remains shaky. Traders and analysts are now waiting for strong buying pressure to emerge at key support levels. Will Bitcoin bounce back, or is this the start of a deeper market correction?
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