Bitcoin Drops Below US$100,000 Amid Crypto Market Slump
Bitcoin has plunged further below the US$100,000 (RM412,900) mark, weighed down by renewed risk aversion and a selloff in technology stocks that has unsettled Wall Street.
The cryptocurrency dropped as much as 3.9% to US$97,956, extending a downturn that has erased more than US$450 billion in market value since early October. Traditional sources of support, including large investment funds, ETF allocators, and corporate treasuries, have pulled back, removing a key pillar from this year’s rally and intensifying market vulnerability.
Analysts at 10x Research say the crypto market has officially entered a bear phase. Citing weaker ETF inflows, ongoing selling by long-term holders, and limited participation from retail investors,…
