Crypto Bloodbath: Bitcoin Drops 7% to $7,500 as Crypto Market Loses $30 Billion

On July 30, recognizing the declining momentum of Bitcoin, CCN reported:

“If BTC fails to maintain its volume and falls below the $8,100 mark, it is possible for BTC to test a major support level at $8,000 and eye a drop below the $8,000 mark. If BTC finds stability in the lower end of the $8,000 region, a short-term bottom will likely be found at $8,000, with expected recovery to $8,500.”

Throughout the past 48 hours, Bitcoin struggled to demonstrate any sign of recovery in its volume and price, and ultimately experienced a significant drop in its value overnight.