Bitcoin Faces Turbulence: Price Plunge Below Crucial Support Amid $11.6 Billion Sell-Off

The cryptocurrency market has recently faced a significant downturn, with Bitcoin’s price dropping to $59,380 and reaching lows of $59,058. The decline has not spared altcoins either, pushing many investors into a sell-off mode. A combination of market events has led to these price movements, notably Bitcoin’s fall beneath its seven-week support level of $59,700