Bitcoin Plunges Amidst Overall Crypto Market Downturn

Following the crypto market’s recent stability, Bitcoin has now led the markets down and has erased all the gains it incurred this past weekend. Today’s drop has led many altcoins to drop more than 10%, and the markets are showing few signs of finding any major support around their current price levels.It is important to note that analysts do not attribute today’s drop to anything technical or fundamental, which signals that this plunge is likely based on a sudden increase in selling pressure.Bitcoin Plunges to $3,600 RegionToday’s drop has sent Bitcoin (BTC) spiraling down nearly 9% to its current price of $3,675, down from its recent highs of nearly $4,100.Alex Krüger, an economist who focuses on cryptocurrencies, discussed the drop in a recent tweet, saying that Bitcoin is entering a buying zone between $3,500 and $3,600, further noting that if it drops below $3,300, he would exit his long positions…

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