Bitcoin (BTC), the largest cryptocurrency by market capitalization, experienced a significant decline on Tuesday, echoing the broader downtrend in the cryptocurrency market. Fueled by worries about the global economy and reduced summer liquidity, Bitcoin dropped below the $65,000 mark for the first time since May 16. Notably, Ethereum (ETH) also faced a 4% loss, trading at $3,400, while other cryptocurrencies, such as XRP, Solana (SOL), and dogecoin (DOGE), suffered even bigger declines. Market Uncertainty Persists Marko Jurina, CEO of Jumper.Exchange, a decentralized exchange (DEX), highlighted that during economic and market uncertainty, traders often sell at a discount to minimize losses or exit riskier positions until the situation becomes clearer. Related Reading: XRP Set For Monumental Rally: Analyst Points To Extremely Rare Signal Jurina explained that the current scenario appears to be a combination of these factors, as weakening global economic conditions, unresolved geopolitical issues, and thinner market activity during the summer months contribute to heightened market volatility. These conditions will persist for the next few months, potentially leading to parabolic movements in either direction for the Bitcoin price. Bit ..
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