Bitcoin bleeds for second straight day, nearly grazes $72,000

Bitcoin experienced a significant decline, falling below the $73,000 mark for the second consecutive day. On Wednesday, the cryptocurrency reached a low of $72,096.20, marking its lowest point since November 2024. This downward trend began on Tuesday when Bitcoin first broke below the $73,000 threshold, indicating a continuation of heavy selling pressure. The recent drop in Bitcoin's value is attributed to investors selling off the asset as a response to increased geopolitical and economic uncertainties. This selling activity reflects a broader trend among investors who are seeking to hedge against potential risks in the market. The combination of these factors has contributed to the ongoing volatility in Bitcoin's price. As the market reacts to these uncertainties, the decline in Bitcoin's value highlights the challenges faced by cryptocurrencies in maintaining stability during turbulent times. The significant drop below the $73,000 level raises concerns among investors about the future trajectory of Bitcoin and the overall cryptocurrency market. Overall, the situation underscores the impact of external factors on cryptocurrency prices, particularly in times of heightened uncertainty. Investors are closely monitoring the developments in both geopolitical and economic landscapes as they navigate their investment strategies in the cryptocurrency space.