Bitcoin Plunges 2% in Half Hour, Drops Below $98,000

Bitcoin's price plummeted by over 2% in just half an hour, dropping below the $98,000 mark. The cryptocurrency is currently trading at $97,673, with a 0.2% decrease in the past 24 hours.

Analysts attribute this sudden decline to a combination of factors, including increased regulatory scrutiny, market volatility, and a general correction in the cryptocurrency market. The recent surge in Bitcoin's price had raised concerns about a potential bubble, and this dip may be a sign of a much-needed correction.

The cryptocurrency market has been volatile in recent weeks, with Bitcoin's price fluctuating significantly. This latest drop comes after a period of relative stability, during which Bitcoin's price had been hovering around the $100,000 mark.

Despite the recent dip, Bitcoin remains the largest and most influential cryptocurrency, with a market capitalization of over $1.8 trillion. Its long-term prospects remain uncertain, however, as the cryptocurrency market continues to evolve and adapt to changing regulatory and technological landscapes.