Bitcoin Plunges Under $97,000, ETH, SOL, ADA Down 8% as $880M in Bullish Bets Liquidated

The recent plunge of Bitcoin below $97,000, alongside an 8% drop in ETH, SOL, and ADA, reflects broader market trends influenced by economic conditions in China. Analysts noted that Bitcoin has faced its worst week since March, with a nearly 9% decline, as highlighted in related reports. The liquidation of $880 million in bullish bets exacerbates the situation, indicating a significant shift in market sentiment. As economic activity in China cools unexpectedly, the implications for cryptocurrency markets are profound, suggesting a need for investors to reassess their strategies in light of these developments.