Bitcoin Price Plunges Below $76,000 Amid Global Market Volatility

Bitcoin's price fell below $76,000 on Tuesday, marking a decline of roughly 2.4% over the past 24 hours according to Bitcoin World market monitoring.

The current trading price is at $75,866.81 on the Binance USDT market, with investors weighing concerns over inflation, interest rate expectations, and geopolitical tensions.

The decline comes amid a broader risk-off sentiment in global markets, which has increased the correlation between Bitcoin and traditional markets.

On-chain data indicates that long-term holders have been distributing coins, adding selling pressure to the market. The Relative Strength Index (RSI) is approaching oversold territory, suggesting that the selling pressure may be nearing exhaustion.