Bitcoin Faces Correction: Price Dips Below $80,000 Amidst Market Volatility and Investor Fear (Feb 28)

Bitcoin (BTC) experienced a significant correction, falling below $80,000 on Feb 28, amidst broader market volatility and declining investor sentiment. This drop, coupled with Dogecoin (DOGE) falling below $0.2, has raised concerns among direct cryptocurrency holders globally. The Crypto Fear & Greed Index hit a near three-year low of 20, levels last seen in July 2022. Total liquidations reached $670 million as Bitcoin fell over 15% from $95,000, confirming a double-top pattern. Analysts predict a potential bottom near $70,000 before a recovery, with a possible drop to $67,000. Despite price drops, Bitcoin active addresses are increasing, suggesting a potential market turning point. KK MINER highlights cloud mining as an alternative, claiming it is unaffected by price fluctuations, offering contracts from $10 to $300,000. The platform supports over 10 cryptocurrencies for settlement and offers referral bonuses up to $50,000. Bybit fully replaced the stolen $1.4 billion in Ether after a recent hack, signaling resilience in the crypto industry.