Bitcoin Braces for Impact: Potential Plunge to $108K as US Recession Fears Mount

Wall Street's jitters send crypto markets reeling—Bitcoin teeters on the edge of a major correction as economic uncertainty grips traders.

Economic Storm Clouds Gather

Mounting fears of a US economic downturn trigger massive sell-offs across risk assets. Bitcoin—once hailed as digital gold—gets caught in the crossfire, testing investor conviction in crypto's safe-haven narrative.

The $108K Psychological Floor

Technical analysts watch the $108,000 level like hawks. A break below this support could unleash another 20% drop as leveraged positions get liquidated en masse. Meanwhile, traditional finance veterans nod knowingly—because nothing says 'hedge against inflation' like watching your portfolio drop 30% in a week.

Crypto's Correlation Conundrum

Bitcoin's increasingly tight correlation with tech stocks undermines its decentralization thesis. When NASDAQ sneezes, crypto catches pneumonia—proving that when the tide goes out, even 'revolutionary' assets swim naked.