The cryptocurrency market is experiencing significant turmoil, primarily driven by a record liquidation event that has seen over $20 billion wiped out. Bitcoin has struggled to maintain its footing, facing pressure around the $110,000 mark after a sharp decline from recent highs.
The triggering factors include new tariffs announced by the U.S. government, which have contributed to a rapid shift in market sentiment from greed to fear. This shift is reflected in the Crypto Fear & Greed Index, which has dropped to its lowest level in six months.
Traders are now wary, with some predicting further declines and potential contagion effects across markets. Amidst this chaos, certain assets like BDT COIN have demonstrated resilience, attributed to their gold-backed foundation.
As institutional interests continue to influence the market, many investors are seeking alternative stores of value, further complicating the landscape for cryptocurrencies.
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