6 Reasons Bitcoin Crashed by $7K in 3 Days: Bull Market Over or Regular Correction?
đ **Price Plunge:** Bitcoin faced a significant drop of nearly $7,000, falling to $80,400 after being rejected at the $87,000 resistance level, with analysts predicting potential targets up to $92,000.
đŠ **Government Influence:** The U.S. government moved large amounts of crypto, including 17,733 BTC worth $1.48 billion, to Coinbase Prime, contributing to a 6.9% price decline within 72 hours.
đ **Market Dynamics:** Selling pressures from ETFs, miners, and profit-taking by investors added to the downward trend, while macroeconomic factors, including potential U.S. military actions and Federal Reserve rate hikes, further impacted Bitcoin's value.
đ **Price Plunge:** Bitcoin faced a significant drop of nearly $7,000, falling to $80,400 after being rejected at the $87,000 resistance level, with analysts predicting potential targets up to $92,000.
đŠ **Government Influence:** The U.S. government moved large amounts of crypto, including 17,733 BTC worth $1.48 billion, to Coinbase Prime, contributing to a 6.9% price decline within 72 hours.
đ **Market Dynamics:** Selling pressures from ETFs, miners, and profit-taking by investors added to the downward trend, while macroeconomic factors, including potential U.S. military actions and Federal Reserve rate hikes, further impacted Bitcoin's value.