The price of Bitcoin plunged below $50,000 on Monday, reaching lows not seen in over six months amid a widespread global market sell-off.
The steep decline coincided with crashing stock markets worldwide, fueled by recession fears. Rising interest rates, disappointing tech earnings, and signs of economic weakness like Friday's U.S. jobs report have rattled investor confidence.
Some analysts warn that continued declines could signal the bull market's end and lead to an extended bear phase. The $50,000 level is seen as an important support area for Bitcoin.
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