Bitcoin has plunged sharply, falling below significant price thresholds, including momentary dips under $60,000 and wiping out gains from the Trump era. Analysts warn this selloff is part of a broader crypto crisis, with predictions of a potential drop to as low as $38,000. As the market grapples with a nearly 50% decline, concerns mount over investor confidence and the implications for the cryptocurrency market. After suffering a dramatic loss shaving trillions off the crypto market cap, many speculate that this turmoil could signal the onset of a new bear market.