Bitcoin has experienced a notable sell-off, with prices dropping below critical levels as investors exercise caution amid fears of a bear market. Following recent highs near $110,000, the cryptocurrency was reported to have plummeted to around $104,000, marking its lowest point since June. Various factors, including a lack of conviction in the market, heightened risk aversion, and substantial liquidations totaling over $400 million, have been cited as contributors to this downturn. Analysts are warning that Bitcoin could face further declines, with predictions suggesting that it may even drop to $88,000 in the near future. Overall, the broader crypto market is reacting negatively, with significant drops in Ethereum, Solana, and other major cryptocurrencies, leading to a loss of $120 billion overnight.