Bitcoin Faces Major Decline, Potential Drop to $40,000
Bitcoin (BTC) has experienced a dramatic fall, dropping over 16% in the last 24 hours and breaking below the crucial $57,000 support level. This sudden decline has raised alarms in the crypto community, with experts now predicting a potential drop to $40,000.
According to leading on-chain data and analytics provider CryptoQuant, this breach of support signals a troubling trend. The recent drop has pushed traders into their most negative unrealized profit margins since November 2022.
