Bitcoin Plunges Below $104K Amid US-China Tensions

The Bitcoin price experienced a significant drop, falling below the crucial $104,000 level as heightened US-China tensions affected global markets. This decline resulted in a substantial market capitalization loss of over $200 billion after Bitcoin’s value dropped from $110,000 to around $104,000. Market analysts like Charles Edwards, CEO and Founder of Capriole Investments, are closely watching the $104,000 support level, as a failure to rebound could signal further downside movement. Bitcoin’s trading volume reached $52.38 billion, reflecting ongoing market concerns.