Bitcoin's price has hit a new low, falling below $90,000, causing market uncertainty and significant position liquidations.
Reasons for Bitcoin's Decline
Bitcoin's price, recently steady at $95,000, has sharply decreased to $89,000. Liquidations amounted to $522 million. Factors contributing to this decline include the collapse of the LIBRA project and the Bybit hack, leading to significant loss. The Fear and Greed Index has moved into Fear territory, potentially indicating further decline.
Crypto Market Faces Massive Liquidations
In the past 24 hours, the crypto market saw liquidations reach $1.34 billion, predominantly affecting long positions. A major investor suffered a $21 million loss. Despite this, institutional investors like Metaplanet continue to purchase Bitcoin, but retail investors are seeking other assets with greater growth potential.
Web3Bay Stands Out Amid Market Turmoil
While Bitcoin faces selling pressure, the Web3Bay platform is growing steadily, attracting funds in the presale phase. The 3BAY token is priced at $0.004562, with potential growth projected at 500x. Web3Bay is a decentralized e-commerce platform with the potential to become a new alternative to centralized platforms like Amazon and eBay.
Bitcoin's price drop has caused a wave of liquidations and concern among traders, while Web3Bay is strengthening thanks to its stable development and broad growth potential.
