Bitcoin Drops Below $80,000: What’s Happening in the Market? Will Crypto Market Recover the Losses?
Bitcoin Drops Below $80,000: What’s Happening in the Market? 1. Major Investor Faces Huge Losses A large investor, known as a "whale," had placed a bet two months ago expecting Bitcoin to rise. However, with BTC dropping below $80,000, this investor has now lost over $17 million. If Bitcoin falls further to $69,839, their position will be automatically liquidated to prevent additional losses. 2. Bitcoin’s Price Struggles to Recover Bitcoin recently hit a high of $81,111, which excited many traders. However, despite this increase, the price has now fallen again. The lower support level is still holding strong, but recovery looks challenging. BTC may need to drop further to the range of $75,500–$80,444 before making an upward move. 3. Altcoins Remain Stable While Top Cryptos Drop Altcoins, or non-Bitcoin cryptocurrencies, are showing stability and are only testing previous low levels. However, the top 10 cryptocurrencies are struggling. After holding their prices st...