Crypto Market Plunges: Bitcoin Tests $80K Support

The cryptocurrency market is in the midst of a significant downturn, with its total market capitalization plummeting to $2.67 trillion, a decline of over 10% from its recent peak. This sell-off has been particularly harsh in the past 24 hours, with the market losing over 7% of its value.

Bitcoin, the largest cryptocurrency, has been hit hard by this market-wide sell-off. Its price has dropped to $80,000, a crucial support level that could determine its next move. In the past 24 hours, BTC has lost over 7% of its value, and in the last week, it has declined by nearly 20%. Investors are closely watching to see if Bitcoin can hold this level or if further declines are imminent.

If Bitcoin breaks below the $80,000 support level, it could trigger another wave of selling pressure. Potential downside targets include $75,000, $73,000, and $68,000. These levels will be critical in determining whether Bitcoin can stabilize or if the bearish trend will continue.

Market uncertainty remains high, with the broader crypto market also taking a hit. Investor sentiment is shaky, and traders and analysts are now waiting for strong buying pressure to emerge at key support levels. Will Bitcoin bounce back, or is this the start of a deeper market correction?