Bitcoin has dropped to $96,000, signaling the onset of a new bear market phase, with key support levels being tested at $93,000. Analysts are observing this significant decline closely, as it may indicate further downward pressure on the cryptocurrency market. The recent plunge has raised concerns among investors, who are now evaluating their positions in light of the current market conditions. The testing of the $93,000 support level is critical, as a failure to maintain this threshold could lead to more severe losses. Market sentiment appears to be shifting, with many traders adopting a cautious approach as they navigate this turbulent phase.
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