#我在Gate广场过新年 February 23rd, the cryptocurrency market once again experiences intense volatility.
Bitcoin price quickly drops in the short term, breaking below the key level of $65,000, with intraday declines approaching 4%, and market sentiment rapidly cools down.
From the market trend perspective, after the important psychological support level of $65,000 was breached, selling pressure clearly increased, and short-term volatility intensified. Many investors who had just calmed down are once again pulled back into a tense state by this decline.
Behind the decline, three major reasons are