Bitcoin investors await price bottom after $1.3T loss
The Bitcoin market experienced sharp declines, losing around $1.3 trillion in its total value amid fears of continued downturn and reaching its lowest levels by the end of summer. It is expected to fall to approximately $50,000 before stabilizing. Analysts indicate that the cryptocurrency is entering a bottoming phase that could take several months to develop, as confidence wanes due to the outflow of funds from investment funds and changing trader trends. Technical indicators, such as the post-sale price and the Fear and Greed Index, suggest that the market is still in advanced stages of decline.
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