#UpdateBTC The cryptocurrency market has experienced a significant downturn recently, with over $800 billion erased from global markets.
Bitcoin (BTC) has seen a notable decline, currently trading at $86,106, down approximately 12% from the previous close. Ethereum (ETH) is also affected, priced at $2,371.52, reflecting a 2% decrease.
Several factors contribute to this downturn:
Policy and Regulatory Concerns: The anticipated pro-crypto reforms under President Donald Trump's administration have not materialized, leading to diminished enthusiasm among investors.
Security Breaches: The recent theft of $1.5 billion worth of Ethereum from the Bybit exchange has raised security concerns, impacting market confidence.
Market Sentiment: Institutional investors are retreating from crypto assets, with significant withdrawals from Bitcoin ETFs, including nearly $1 billion pulled out on Tuesday alone.
Analysts suggest that while the market is experiencing a "reality check," strong support zones and continued institutional interest may indicate potential stabilization.
Given the current volatility, experts advise caution and recommend that investors closely monitor the evolving economic and regulatory
