Bitcoin's price has dropped below $100,000 as the crypto market experiences increased volatility. This decline coincides with a significant decrease in transaction activity on the Bitcoin network, with the mempool volume at its lowest level since March 2024. The broader crypto market has also seen losses, with Ethereum, Solana, and BNB all experiencing declines exceeding 7%. The volatility has led to liquidations of leveraged positions, amounting to over $555 million. The decrease in transaction activity raises concerns about Bitcoin's usage as a medium of exchange, as it is increasingly seen as digital gold and a long-term store of value.



Other News from Today