The decline in Bitcoin (BTC) prices in cryptocurrency markets continues unabated. Bitcoin, which has lost 6% in value in the last 24 hours, has fallen below $97,000. This decline creates concern among investors, while other cryptocurrencies are also losing value in a similar way.$BTC
The sharp decline in Bitcoin has also significantly reduced the total market value of the cryptocurrency market. Major altcoins such as Ethereum (ETH), Binance Coin (BNB), Solana (SOL) are also affected by this negative trend and continue to lose value. Experts emphasize that such major declines are usually caused by increasing selling pressure in the market.
The critical support level of $97,300 for Bitcoin is being tested. If the price falls below this level, the next support point could be $94,700. However, experts warn that the decline could recover in the short term and urge investors to be careful. It is thought that this loss of value in Bitcoin is due to uncertainties in global markets. In particular, the policies of the US Federal Reserve (FED) and upcoming macroeconomic data continue to put pressure on crypto markets. In addition, news of Bitcoin sales by large investors also has a negative impact on the market.
Parallel to Bitcoin, altcoins are also experiencing serious losses in value. Ethereum (ETH) lost 10.65% and Solana (SOL) lost 10.31% in the last 24 hours. While the negative outlook in the market continues, investors are advised to be cautious.