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Bitcoin Drops Near $77,000 as Global Uncertainty Hits Markets
Bitcoin faced a rough weekend, sliding below $78,000 and hovering close to $77,000. With trading activity usually lighter on weekends, even moderate selling pressure pushed prices down quickly.
The decline came as investors reacted to rising global tensions. News of an explosion at Iranโs Bandar Abbas port, a key oil shipping hub, increased concerns about instability in the Middle East. At the same time, political drama in the U.S., including a brief government shutdown, added to market nervousness. When fear dominates, traders often step back from risky assets like crypto.
Analysts believe the drop wasnโt just about Bitcoin alone. Broader financial markets also saw weakness, but Bitcoin tends to react more sharply whenever risk sentiment turns negative. Low liquidity played a major role too. There simply werenโt enough strong buy orders in the market, so prices fell faster once selling began.
Other crypto factors added extra pressure. Recent outflows from Bitcoin spot ETFs and the ongoing reduction of leveraged positions have weighed on demand. After earlier market liquidations, confidence remains fragile, keeping traders cautious.
For now, Bitcoin is moving with global sentiment, and traders are watching closely for signs of stability. ๐๐ฐ$BTC $SOL #CZAMAonBinanceSquare #USGovShutdow #PreciousMetalsTurbulence #WhoIsNextFedChair