Bitcoin fell below $93,714 on Sunday, erasing over 30% of its gains since the start of the year. The drop follows cooling of high-flying technology stocks and fading enthusiasm over the pro-crypto stance of the Trump administration. Institutions are stepping back, signaling a shift in market sentiment and potential buying opportunities.

The market downturn has affected smaller tokens even more severely, with a MarketVector index tracking the bottom half of the largest 100 digital assets down around 60% this year. Despite boom and bust cycles being common in the crypto market, skepticism around capital deployment and lack of bullish catalysts are prevalent among investors. Bitcoin’s volatility remains a significant factor in the overall market value of cryptocurrencies.

Read more at Yahoo Finance: Bitcoin Erases Year’s Gain as Crypto Bear Market Deepens