**Bitcoin Plummets Amid Global Market Turmoil**

Bitcoin (BTC) has kicked off August with a dramatic downturn, plummeting to its lowest levels since February. BTC/USD has shed nearly $18,000 in a matter of days, reflecting a broader sell-off in risk assets as recession fears grip the United States.

- **Market Impact**: Bitcoin's price has dropped 25%, now trading below $50,000. This sharp decline has triggered liquidations exceeding $1 billion.

- **Altcoins Hit Hard**: Ether (ETH) has fared worse, down nearly 40% in the same period.

- **Global Context**: The Japanese Nikkei 225 has also seen record losses, underscoring the global nature of this market reset.

Crypto traders are now anxiously watching for signs of a bottom, with some hoping for central bank intervention to stabilize the markets.