In the last 24 hours, the cryptocurrency market has experienced a significant decline, with Bitcoin and altcoins suffering major losses. The decline in Bitcoin is attributed to a bearish market sentiment and a lack of positive catalysts. BTC fell to $91,000, breaking key support levels, while other cryptocurrencies such as Ethereum, Solana, XRP, and Dogecoin also saw significant decreases in value. This has resulted in $881 million worth of leveraged positions being liquidated, with Bitcoin being the most affected. Analysts warn of the possibility of further corrections, as Bitcoin demand has fallen into negative territory for the first time since September 2024. If BTC fails to hold the $93,700 support level, there is a risk of the price falling to $75,600. The declines are attributed to inflation concerns and the Fed's pause on rate cuts, but the situation could change as weak economic data may prompt further action from the Fed. At the time of writing, Bitcoin is trading at $91,750.



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