Morning Minute: Bitcoin Breaks Below $100K for First Time Since May

Bitcoin dipped below $100,000 for the first time since May, with a significant drop of approximately 6%. This price movement occurred in the context of a broader sell-off in the crypto markets, affecting major assets like Ethereum and Solana, which also experienced declines of 10-15%. Despite these losses, some analysts express optimism, citing that such pullbacks are typical in the crypto space and often precede recoveries. Current signs suggest a potential rebound, with Bitcoin having regained some value, trading around $102,000 shortly after the downturn. The sentiment, although rooted in fear, reflects a historical pattern where major crypto assets recover from substantial dips. Positive external factors, such as the possibility of an ending U.S. government shutdown and ongoing Bitcoin ETF inflows, contribute to this optimistic sentiment amidst market challenges.

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