Bitcoin slumps to $93,000, its lowest in seven months, with a sharp weekly decline raising caution amid technical weakness and fragile market sentiment.
Bitcoin dropped to $93,000 on the 18th, marking a seven-month low with a 13.4% weekly and 2.8% daily decline. The fall below the 50-week moving average signals technical weakness and has heightened market caution. This downturn adds to broader crypto market anxiety, following earlier multi-month lows in Bitcoin and Ether, a plunge in the Fear and Greed Index to extreme fear levels, and continued liquidity shortages affecting price stability.