Bitcoin, the world’s most prominent cryptocurrency, has slid by 10% in a single day, as bearish sentiment continues to grip the crypto market. The decline is fueled by concerns over macroeconomic instability and increasing regulatory scrutiny.
The sell-off has triggered a wave of liquidations in the derivatives market, with billions of dollars in leveraged positions being wiped out. “The market is in a state of panic,” said one analyst. “Investors are rushing to exit their positions amid the uncertainty.”
Other major cryptocurrencies, including Ethereum and Dogecoin, have also seen significant losses, further amplifying the bearish sentiment. Despite the downturn, some experts believe this could be a buying opportunity for long-term investors.
“Bitcoin has a history of recovering from steep declines,” said a crypto expert. “While the short-term outlook is uncertain, the long-term potential remains strong.”
