Bitcoin dropped below $75,000 amid market instability

On Monday, the price of bitcoin showed a significant decline and for the first time since November 7, 2024, it fell below the $75,000 mark, according to trading data. On Binance, the largest crypto exchange, the flagship cryptocurrency fell by 10.04% per day, falling to the level of $74,508.

According to analysts, bitcoin often behaves like a high-tech sector asset and is used by traders as a market indicator. Last week, the cryptocurrency held in the range of $82,000-$83,000 and even showed growth by the weekend, despite the collapse of stocks and the decline in gold prices.

Since reaching its January all-time high ($109,000), bitcoin has lost about 28% of its value. Forecasts suggest that the cryptocurrency exchange rate will follow stock market trends in the absence of significant factors that can affect its dynamics. 

Increasing worries about a possible global recession in the world continue to overshadow any positive impact of regulatory initiatives, which experts expected to have a positive effect on digital assets this year.