How Low Can Bitcoin Go?
Global financial markets are facing a broad-based selloff this week as appetite for risk assets, including crypto and stocks, begins to wane.
Bitcoin plunged below the historic $100,000 level on Tuesday, while the S&P 500 index and gold fell 3% and 10% from their respective peaks. On Wednesday, Bitcoin dropped to an intraday low of $99,110 before recovering slightly, marking a 21% decline from its October peak, CoinGecko data shows.
The broader crypto market capitalization fell to $3.44 trillion, its lowest level in four months. The sell-off also triggered over $2 billion in liquidations across digital assets, the second consecutive day of a major unwind in leverage.
Regardless of the key catalysts driving the selloff or…
