The cryptocurrency market experienced a significant drop as inflation concerns grew among American consumers and anticipation for new regulations heightened. Following a recent surge in the price of Bitcoin, it has now fallen to $86,050. This decline is attributed to disappointing inflation data and fallout from the ByBit hacking incident. As a result, the fear index plummeted to 25, marking one of the lowest points in recent times. 8%, as investors took profits after weeks of gains. This downturn has impacted many altcoins, with over 380,000 traders liquidated after futures trading liquidations reached a staggering $1.56 billion in just one day. 5% drop, impacting several other cryptocurrencies and pushing them to last year’s lows alongside Bitcoin’s decline. The current market dynamic suggests a possible bottoming out of the Bitcoin price with the RSI now considered oversold. Yet, for Bitcoin to break through $100,000 will require significant support, while an unsuccessful attempt could trigger a massive sell-off, potentially leading to further losses. To understand the full impact of this market shift, it’s essential to stay informed and monitor market trends.