According to PANews, the cryptocurrency market experienced significant selling pressure starting at 13:59 UTC+8, coinciding with the opening of the European market. Bitcoin faced a sharp decline of over 2% within minutes, followed by Ethereum, which dropped by 5%. Other cryptocurrencies were similarly affected, with Solana plummeting by 7% in just three minutes. This downturn occurred without any apparent catalyst.
From a broader perspective, Bitcoin recently fell to a critical level of 111,900, a threshold it has struggled to break in recent months. This level has historically prompted a rebound as buyers seize the opportunity to purchase at lower prices.
