A sharp decline in cryptocurrency sentiment, dubbed a “mega nuke” by analysts, has gripped the market as Bitcoin (CRYPTO: BTC) fell below $79,000 on Thursday evening, down 24% from its January peak of $109,590.
Major altcoins including BNB (CRYPTO: BNB), Solana (CRYPTO: SOL), and Dogecoin (CRYPTO: DOGE) all fell down between 12 and 15%.
What Happened: Speaking with Benzinga, experts attribute this plunge to a mix of technical corrections, regulatory uncertainty under the Donald Trump administration, and a $1.5 billion Bybit hack, with industry voices offering varied perspectives on the downturn’s drivers and potential recovery.
Bitfinex analysts pinpointed multiple triggers for the sentiment crash.
“The combination of a sharp Bitcoin price drop, regulatory uncertainty, security breaches and declining altcoin valuations has led to extreme fear in …
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