The cryptocurrency market is experiencing a significant downturn as Bitcoin fell below $80,000 and Ether dipped below $2,100, attributed to investor concerns over macroeconomic factors and a lack of a U.S. government plan to purchase Bitcoin. With investors perceiving Bitcoin as increasingly risky, many are turning to gold, which is being dubbed the ‘doomsday asset.’ Despite the market’s challenging climate, some analysts suggest that low trading volumes may not indicate long-term weakness, hinting at possible recovery with the arrival of institutional buyers.
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