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bitcoin slipping below $104k?? 📉 crypto market hitting the skids, altcoins in freefall, liquidations hitting BILLIONS 💸
problem: Bitcoin slipping below $104,000 triggers a broader market decline, with major altcoins following suit.
insight: Challenges in the crypto space
The cryptocurrency market faced losses as Bitcoin dropped below $104,000, hitting June levels. At $103,849, Bitcoin’s price fell 3.2% on the day. This decline stems from a Challenge crisis and macroeconomic fears, driving risk aversion. Bitcoin is down 17.5% from its high, leading major altcoins like Ethereum and XRP to drop 5-9%. Crypto liquidations hit $1.37 billion. Market sentiment worsens, with futures contracts’ premium dropping below 4%, showing a bearish shift. Confidence crisis in DeFi also impacts the market.
Bitcoin Slips Below $104,000 as Crypto Market Extends Losses
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