Gate.io CEO Dr. Han Says Crypto Market Has Entered Bear Phase
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Bitcoin trades at approximately $66,500, nearly 50% lower than its October peak above $126,000. The total cryptocurrency market cap has dropped from $4 trillion to around $2.4 trillion, indicating a significant downturn. Industry leaders view crypto payments and tokenized real-world assets as potential growth drivers amid the current bear market.
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- Bitcoin trades near $66,500, almost 50% below its October peak above $126,000.
- The total crypto market cap has fallen from $4 trillion to around $2.4 trillion.
- Industry leaders highlight crypto payments and tokenized real-world assets as future growth drivers.
The cryptocurrency market is showing clear signs of a downturn after Bitcoin fell sharply from last year’s record highs, wiping out billions in market value and pushing the broader digital-asset sector into what industry executives describe as a bear-market phase.
Bitcoin recently traded near $66,500, down nearly 50% from its October peak above $126,000, after slipping about 1.5% in the latest trading session. Market data shows the decline represents one of the largest capitulation periods in the asset’s history, comparable to major sell-offs seen during previous crypto downturns.
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