*Nikkei Plunge Triggers Crypto Sell-Off! Bitcoin, Ethereum Prices Hit Hard*
Bitcoin price drops due to Nikkei 225 decline and geopolitical tensions.
Altcoins and meme coins also experience significant losses.
Market sentiment remains bullish despite recent price drops, but experts predict potential retracement before a significant uptrend.
Bitcoin (BTC) has dropped nearly 2%, trading around $64,536, following a sharp 4.6% fall in Japan’s Nikkei 225 index.
Concerns over possible interest rate hikes, sparked by Shigeru Ishiba’s recent election victory, have rippled through the markets, impacting cryptocurrencies.
*Top altcoins* like *Ethereum (ETH)* , *Binance Coin (BNB)* , and meme coins such as *Dogecoin (DOGE)* and *Shiba Inu (SHIB)* have all taken hits, with *losses ranging from 5% to 8%* .
*Why Are Bitcoin’s September Gains Fading?*
Selling Pressure Amid Geopolitical Tensions
After a strong 9% gain in September, Bitcoin is now facing selling pressure, as bulls struggle to hold its price above $65,000.
This drop comes at a time of rising geopolitical tensions, including recent military actions in Israel, which have unsettled markets even further.
Data from analytics firm Santiment shows that Bitcoin’s social sentiment remains bullish, with 1.8 positive posts for every negative one.
Suggesting Bitcoin’s next all-time high might take longer to materialize.