Recent market volatility has caused a significant drop in cryptocurrency prices, with major coins like Bitcoin, Ethereum, Solana, and Dogecoin all experiencing losses of 6% to 12%. Traders are reacting cautiously to erratic global market conditions. This has led to liquidations worth hundreds of millions of dollars, raising concerns among market participants. The Asian trading session witnessed a spike in volatility across high-risk assets, including stock indexes that experienced drops of nearly 10% in countries like China, Taiwan, Japan, and Singapore. These events triggered the activation of circuit breakers on several regional exchanges. Bitcoin saw a drop of 6.9%, hovering around its crucial support level of $77,500. Daily trading volume surged to over $44 billion, highlighting increased activity amidst the decline. Analysts warn that if Bitcoin fails to maintain its position above this threshold, further price declines could occur. The market is grappling with questions about Bitcoin’s resilience as a ‘digital gold,’ with experts like Peter Schiff expressing concerns.