OPINION: U.S. Stocks Plunge Causes BTC to Fall Below $80,000 Key Support Level, DOGE or One of the Reasons for the Recession
Odaily Planet - Bitcoin has fallen below the key $80,000 support level and is nearing a low of $78,000 as stocks take a beating due to a fresh sell-off on Wall Street, investors are starting to shift from risky to safe assets across the board, and cuts in government spending by the US Department of Governmental Efficiency (DOGE) are one of the causes of the recession, analysts Kobeissi have said, saying they believe that US government spending and job growth have been ‘driving’ the economy, but DOGE's cost-cutting will have far-reaching implications, and it is unclear where BTC price action might form a more reliable bottom.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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