Bitcoin Plunges Below Key $100,000 Threshold as Bear Market Fears Intensify

Bitcoin has tumbled below the psychologically significant $100,000 level for the first time since June, with prices collapsing to approximately $99,300 on Wednesday. This represents a decline of more than 20% from October’s record peak, leading numerous market observers to declare the official onset of a bear market. The dramatic sell-off has left investors grappling with uncertainty and fear.

The Fear and Greed Index, a key barometer of cryptocurrency investor sentiment, has nosedived into “Extreme Fear” territory. This shift in mood stems from several converging factors. A strengthening US dollar is diminishing the appeal of speculative assets like Bitcoin. Concurrently, growing ambiguity surrounds potential interest rate cuts from the US Federal Reserve, Read more...