{"id":633257,"date":"2024-08-05T22:30:07","date_gmt":"2024-08-05T22:30:07","guid":{"rendered":"https:\/\/wncen.com\/?p=633257"},"modified":"2024-08-05T15:36:08","modified_gmt":"2024-08-05T15:36:08","slug":"bitcoin-price-analysis-what-lies-on-the-horizon-after-crashing-below-50000","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-price-analysis-what-lies-on-the-horizon-after-crashing-below-50000\/","title":{"rendered":"Bitcoin Price Analysis: What Lies On The Horizon After Crashing Below $50,000"},"content":{"rendered":"
The cryptocurrency market has been rocked by a massive sell-off, with the Bitcoin price plunging 26% from its July highs above $70,000. This dramatic decline comes amid a broader crash in global financial markets, reflecting growing economic uncertainty and investor risk aversion.<\/span><\/p>\n
Crypto Winter Returns?\u00a0<\/span><\/h2>\n
The crypto sphere was not spared from this turbulence, as risk aversion sentiments reverberated across the industry on Monday. Bitcoin witnessed a staggering 16% decline, reaching as low as $48,860 on Binance, while Ethereum, the second-largest cryptocurrency, experienced its most substantial fall since 2021, reaching $2,116.\u00a0<\/span><\/p>\n