Bitcoin Fell Below $106K, Cryptocurrency Market Volatile

Bitcoin and Altcoins Continue to Decline

Towards the end of the weekend, the decline in cryptocurrencies gained momentum during the early hours of A.B.D. Bitcoin dropped to $105,500 with a loss of more than %4. Prominent altcoins such as Ethereum and Solana also lost between %6 and %10 in value.

As a reflection of the volatility in the markets, more than $1 billion in leveraged positions were liquidated in digital assets. This situation once again highlighted how volatile the cryptocurrency market can be.

However, some analysts, particularly Tom Lee, remain optimistic that Bitcoin has the potential to reach $200,000 and Ethereum could hit $7,000 by the end of the year. To reach these targets, prices would need to nearly double in the next eight weeks.