According to a report from cryptochronicle.xyz, Bitcoin (BTC) experienced a brief drop to $55,500, marking its lowest point since August 8th. This drop resulted in the reversal of nearly all gains made in the past month. The broader market, as tracked by CoinDesk 20 (CD20), a liquid index that monitors the largest tokens by market capitalization, fell by almost 6%. Major tokens like Solana’s SOL and Ethereum (ETH) also saw a decrease of over 7%, leading the losses in the market.

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