Crypto Markets Plummet Amid Economic Concerns and Rising Scams

Bitcoin and other major cryptocurrencies face significant losses as recession fears grow and fraud warnings increase.

Bitcoin's price fell below $63,000, with potential to drop further as economic indicators weaken.
Major cryptocurrencies like Ethereum, Solana, and XRP saw substantial declines, wiping $300 billion from the market.
The FBI issued warnings about scammers impersonating crypto exchange employees to steal funds.
Increased Bitcoin mining difficulty reached an all-time high, affecting miners' profitability and market dynamics.
Analysts suggest Bitcoin might benefit in the long term if the U.S. dollar weakens and interest rates are cut.