Bitcoin Faces Critical Test Amid Market Turmoil

Bitcoin CRYPTO000BTC

The cryptocurrency market is experiencing a severe downturn this Monday, with Bitcoin’s value plunging below the $86,000 threshold. The digital asset has registered a loss exceeding 5% in just a few hours. However, this sell-off appears driven by more than typical volatility. A confluence of events—a multi-million dollar hack targeting Yearn Finance and a major European crackdown on cryptocurrency mixing services—has created a potent cocktail of fear and uncertainty. The key question for traders is whether bullish investors can defend crucial support levels or if a deeper correction toward $80,000 is imminent.