$BTC Crash Alert: Is This Another August 2024 Scenario?

#Bitcoin 's recent drop below $90,000 has sparked concerns among investors, drawing comparisons to the August 2024 crash when BTC plunged from $67,000 to $49,000. While both events involve steep declines, their causes and market conditions differ.

In August 2024, Bitcoin's crash was largely driven by a broader financial market sell-off. Weak economic data and recession fears pushed investors away from riskier assets, including crypto, leading to a sharp downturn. Traditional stock markets also suffered heavy losses, amplifying Bitcoin’s decline.

This time, the drop is influenced by a mix of crypto-specific events and macroeconomic factors. A $1.5 billion hack of the Bybit exchange has raised security concerns, shaking investor confidence. Additionally, President Trump’s announcement of a strategic crypto reserve, funded by seized assets, failed to meet market expectations, adding to negative sentiment. Broader economic issues, such as proposed tariffs and inflationary pressures, are also weighing on BTC’s price.

While the August 2024 crash was more linked to global economic uncertainty, the current decline stems from a combination of internal crypto disruptions and external economic policies.

Will BTC find support between $81K-$82K, or is a further dip to $80K likely? What’s your take?

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