Crypto Markets Plunge, Institutions Prepare for Economic Stress

Crypto markets plummet, Bitcoin drops to $82k, total market cap shrinks to $2.8 trillion. Market shift due to auto-deleveraging event, weakening digital asset treasuries narrative, strengthening dollar, and record redemptions from spot Bitcoin and Ethereum ETFs. Analysts warn of potential escalating issues, with Bitcoins next major support level at $75k. Investors show increased interest in deep out-of-the-money put options, indicating growing concern for further downside.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.