As Bitcoin Plunges Below $95K, Is Crypto in a Bear Market?
Massive exchange-traded fund outflows, declining institutional and retail spot appetite, and increased selling pressure from whale activity have investors questioning whether crypto is in a bear market.
Bitcoin dropped below $95,000 Friday morning, down 8% on the day and over 24% since its record peak of $126,200 just five weeks ago, according to CoinGecko data. In the past 24 hours, more than $1.24 billion in crypto longs have been liquidated amid the market slump, according to CoinGlass data.
The selloff is not limited to crypto markets and can be seen across equities, with the S&P 500 index dropping nearly 1% in the pre-market session, while gold is down 2.76% today.
The bellwether crypto is down over 10% since its Monday…
