Crypto Market Plunges $500 Billion as Bitcoin Hits 15-Month Low

• The cryptocurrency market lost nearly $500 billion in under a week due to a sharp selloff led by Bitcoin.
• Bitcoin dropped to a 15-month low of $72,877 on February 3, its lowest since November 2024.
• The world's largest cryptocurrency was trading around $76,200, down 13% this year and 39% from its October 6 peak.
• Analyst Rachael Lucas noted cautious sentiment and 'extreme fear' as Bitcoin fell below $73,000.
• Bitcoin's failure to act as a safe haven amid US-Iran tensions raises doubts about its 'digital gold' status.

Why It Matters: The crypto market experienced a massive $500 billion loss, with Bitcoin hitting a 15-month low.