Crypto Market in Turmoil as Bitcoin Price Plummets and Bears Eye $27k

Bitcoin's market sentiment remains shaky as regulatory pressures take a toll on the cryptocurrency, causing it to drop below $27,000. Traders remain uncertain about the future of BTC, with some placing bullish bets on a potential rebound. However, the market's volatility and the weekly death cross between the 50 and 200 MA suggest choppier days ahead. Meanwhile, new meme-coins are rising in popularity, stealing BTC's thunder, and the EU has passed the Markets in Crypto-Assets Act (MiCA) to standardize regulations and establish harmonized rules for crypto assets across the European Union.