Bitcoin Plunges Below $72,000 Amid 'Crisis of Faith' and Market Turmoil

• Bitcoin briefly dropped below $72,000, a level not seen in 15 months, extending its downward spiral.
• The cryptocurrency has shed over 42% from its October peak, hitting $71,739 on Wednesday.
• Market analysts describe the current situation as a 'crisis of faith' for Bitcoin.
• The recent decline is linked to broader cross-asset stress, including a synchronized selling across global markets.
• Skepticism is growing about Bitcoin's role as a safe haven, with the token down 17% this year and the broader crypto market losing $460 billion in value.