The cryptocurrency market experienced a wave of uncertainty this week as concerns surrounding the US regional banking sector triggered a ‘risk-off’ mood across financial markets. Notably, Bitcoin’s price dropped below the crucial support level of $108,000, resulting in over $147 million in liquidations on the bitcoin perpetual futures market according to Coinglass data. This bearish trend led to significant declines in several speculative altcoins, with losses exceeding 10% in some cases. Analysts are now closely monitoring the $100,000 level as a potential turning point for Bitcoin’s price trajectory. Simon Peters, Crypto Analyst at eToro, offered insight on the current market situation: ‘If concerns in the US regional banking sector remain isolated and do not escalate into systemic risk, we could see a bounce as investors capitalize on the dip. An end to the government shutdown and positive US economic data could also provide a short-term boost for prices. We’ll need to observe how markets respond.’ Despite the recent volatility, the crypto market continues to attract attention as investors explore both risks and opportunities in a dynamic economic landscape.