Bitcoin Plunges Below $94,000 Amidst Bear Market Intensification

Bitcoin’s price has fallen below the crucial $94,000 mark, marking the deepening of a bear market that has impacted other cryptocurrencies like Ethereum and Solana. This decline erases substantial gains achieved earlier in 2023. Institutional investment flows have slowed considerably, marked by record liquidations, reflecting weakened sentiment. Global economic uncertainty and hesitancy among major market players are contributing to this ongoing downturn.