Morning Minute: Bitcoin Breaks Below $95K

Bitcoin continues to struggle as it dropped below $100,000, hitting $95,000 and triggering concerns about a potential bear market. This decline marks the third instance this month where Bitcoin fell below this critical threshold. Major cryptocurrencies have also seen significant losses, with Ethereum down 12% and Solana dipping by 13%. The recent downturn has been exacerbated by $867 million in Bitcoin ETF outflows, leading to fears of increased volatility in the markets. The crypto sector is also reporting a lack of recovery in open interest as analysts predict it may take months to recover from the recent $19 billion loss in October. Market sentiment is notably fragile, with indicators showing that crypto Fear & Greed remains in Extreme Fear, reflecting investors' unease in light of recent price actions. Despite these challenges, some analysts maintain optimism regarding Bitcoin's future, citing ongoing institutional adoption and potential regulatory clarity as factors that could support a long-term recovery.

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