Bitcoin Price Crashes Toward $50K – ‘Extreme Fear’ Sparks $2 Trillion Crypto Meltdown
Arslan Butt is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. He brings a broad range of skills to help beginners evaluate financial...
Bitcoin price dropped sharply, falling below $53,000 as weak U.S. jobs data fueled concerns about a potential economic slowdown. The cryptocurrency plunged nearly 8% in less than 24 hours, reaching a low of $52,530 before recovering slightly.
Investors are increasingly avoiding riskier assets like Bitcoin, with the market facing additional pressure from reduced inflows into Bitcoin ETFs and broader seasonal trends.
Bitcoin prices dropped nearly 8% in under 24 hours, hitting a low of $52,530 before slightly rebounding to $53,803.
This sharp decline was driven by weaker-than-expected US job data, which revealed fewer jobs added in August than anticipated. Concerns over a potential economic slowdown led investors to shy away from riskier assets like Bitcoin.
#Bitcoin's price fell to around $56,000 after a 5.5% decline, but derivative data suggests that professional traders are not turning bearish.
Futures and options markets remain neutral, with no signs of excessive leverage or panic selling. #US job market data and potential… pic.twitter.com/QQsIDIzxqI
Analysts also pointed to slower capital inflows into Bitcoin ETFs and seasonal market trends as additional factors contributing to the drop. These elements could keep Bitcoin’s price under pressure in the coming weeks.
The broader market is grappling with economic uncertainty and wavering investor confidence. With weak job numbers and ongoing macroeconomic concerns, Bitcoin’s volatility may persist, and further declines are possible if the economic outlook doesn’t improve soon.
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