Five Reasons Behind Bitcoin's Recent Plunge

For a few minutes there on Friday morning, it felt a little touch and go, when Bitcoin seemed like it would take out the last support line at $80,000 and crash right on down to the depths of hell. However, a few soothingly dovish words in the last minute from Fed Vice Chair Williams (aka Powell's voice and right hand man), sent rate cut odds surging, and bitcoin jumping by over 10% in the subsequent 24 hours (the cryptocurrency traded as high as $89K earlier today. 

Still, the 35% drop in Bitcoin's price from its early-October record high of $125K to Friday's $80,000 low - roughly half the drawdown of bitcoin's biggest periodic crashes - has left traders and crypto bulls dazed and confused, asking what the hell is going on and why is bitcoin suffering its worst bear market since covid the FTX bankruptcy, especially since there hasn't been any specific news to spark the selling?