The value of bitcoin has plunged in recent days as bitcoin “whales” sell, and as concerns about a cyclical bear market grow.
Bitcoin fell below $90,000 on Tuesday for the first time since April. That marks a precipitous decline from a recent peak of over $124,000, a significant 27% decrease. Also, bitcoin has now shed all of this year’s gains and is now down about 1% from the start of the year, a major course correction.
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