Bitcoin falls below 100 thousand dollars for the first time since last June $BTC
The price of Bitcoin has dropped below the 100 thousand dollar mark today, marking the first time since last June, representing a sharp technical breakout for the world’s largest cryptocurrency.
This decline comes below the important psychological level amid ongoing selling pressures and increased outflows from Bitcoin-related investment products.
Recent analyses indicate bearish technical patterns in the price charts, signaling further potential declines unless the currency regains key support levels soon.
This drop occurred within a sharp correction wave hitting the cryptocurrency market in recent days, as Ethereum fell by more than 9% to trade at around 3305 dollars, while XRP dropped by over 6% to register 2.20 dollars, and Solana decreased by about 7% to settle at 156.25 dollars.
Analysts believe that the increasing outflows from digital asset investment funds have contributed to the selling momentum during the recent trading sessions.
Technical analysis experts warn of the possibility of Bitcoin facing a deeper correction if it fails to hold above critical support levels, especially amid continued selling pressures from both individual and institutional investors $BTC .