Bitcoin plunges to $75 thousand after a sharp drop in a few days
The bitcoin exchange rate has plummeted to around $75 thousand, losing more than $15 thousand in just a few days. About three days ago, the cryptocurrency's value was hovering around $90 thousand, According to data from trading platforms.
Falling dynamics
To the latter:
7 days bitcoin has fallen in price by almost 15%;
30 days - by more than 16%;
year - by about 23%.
The current decline was one of the sharpest in recent months and was accompanied by an increase in trading volumes and liquidation of positions in the derivatives market.
Possible reasons
Analysts attribute the drop to several factors:
fixing profits after prolonged growth;
a general deterioration in sentiment in global financial markets;
increased sensitivity of the crypto market to geopolitical risks and macroeconomic signals.
It is also noted that the sharp movements in the exchange rate were exacerbated by automatic sales and stop orders.
What's next
Experts do not rule out increased volatility in the coming days. Some traders expect a technical rebound, while others warn of the risk of further declines if the negative market environment persists.
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