Morning Minute: Bitcoin Breaks Below $95K

Bitcoin has dropped below $95,000 for the third time this month, raising concerns about whether the bear market has officially begun. With Bitcoin down 8% in the last 24 hours and over 24% from its peak of $126,200, the entire crypto market appears affected. Major cryptocurrencies like Ethereum and Solana also followed suit, with declines of 12% and 13%, respectively. The downturn coincides with significant outflows from Bitcoin ETFs, totaling $867 million, and a lack of buying interest from both institutional and retail investors. On top of this, over $1.24 billion in crypto long positions were liquidated during this market slump. Meanwhile, investor sentiment remains fragile, reflected in the Extreme Fear reading of the Crypto Fear & Greed Index. Despite the turmoil, the long-term outlook for Bitcoin remains positive with potential institutional adoption and regulatory clarity on the horizon. Investors are left uncertain about what the near future holds, but there is hope that the market could find a bottom soon.

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