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Bitcoin Plunges Under 82000 As Crypto Market Faces Risk Off
Bitcoin crashes toward US$81,600 as crypto markets reel from risk-off and falling tech bets.
Bitcoin has tumbled to around US$81,668, its lowest in months, amid a broad sell-off in the crypto market. The drop is being driven by a retreat from speculative and high-beta assets, as investors grow wary of stretched technology valuations and reduced expectations of imminent rate cuts.
Crypto markets have shed over US$1.2 trillion in value in recent weeks. Analysts warn that if key support breaks, further downside could follow amid weakening investor sentiment.