The crypto market has seen a significant decline, with the total market cap dropping to $2.67 trillion from over $3 trillion recently. In the past 24 hours, the market has lost over 7% in value, causing concern within the industry.

Bitcoin, the largest cryptocurrency, has hit a key support level of $80,000, and its next move will depend on whether it can hold this level or experience further declines. BTC has already lost over 7% in the past day and nearly 20% in the last week.

If Bitcoin breaks below the crucial $80,000 support, it may trigger more selling pressure and potentially reach downside targets. These levels will be crucial in determining if Bitcoin can stabilize or if the bearish trend will continue.

Given the broader decline in the crypto market, investor sentiment remains uncertain. Traders and analysts are waiting for strong buying pressure to emerge at key support levels. The industry is now questioning if Bitcoin will recover or if this decline is the start of a larger market correction.



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