Bitcoin's price fell to $80,000, resulting in a $110 billion drop in its market capitalization within 24 hours and a $200 billion drop since Friday.
This decline, fueled by US President Trump's executive order on the Strategic Bitcoin Reserve, which didn't satisfy the market because it fell short of what was promised, and broader economic uncertainties like U.S. tariff wars, also started by Trump.
This led to significant liquidations of long positions in $BTC and the wider cryptocurrency market. The total crypto market cap decreased by 6.42% to $2.65 trillion, with most other major cryptocurrencies such as $ETH also experiencing losses.
For investors, this dip presents a crucial decision point. Some may see this as a buying opportunity, viewing the price drop as a temporary correction before a potential rebound. Others, wary of further declines, might choose to sell to mitigate potential losses.
The decision to hold, buy the dip, or sell hinges on individual risk tolerance, investment strategy, and belief in Bitcoin's and other coins' long-term prospects.
It's essential to conduct thorough research, consider market trends, and make informed decisions based on your own financial situation. Remember, the cryptocurrency market is highly volatile, and past performance is not indicative of future results.
