Bitcoin, Ethereum, and XRP are experiencing declines as they react to market volatility associated with 'triple witching,' where multiple financial contracts expire simultaneously. Bitcoin has fallen to around $83,374, a 2.4% decrease from yesterday, its lowest point since November 2023. Ethereum also dropped by 2.4%, trading at $1,948.93. XRP saw a larger decrease of 5.2% amid ongoing speculation regarding regulatory developments with Ripple Labs. Triple witching events are expected to heighten volatility in markets, with approximately $4.5 trillion in contracts expiring. Traditional market indicators like the VIX have shown an increase in perceived volatility. Furthermore, analysis suggests that Bitcoin's options market has turned risk-averse, with traders favoring protective measures against potential declines, indicating concerns over future price movements. The overall sentiment in cryptocurrencies has weakened, with expectations for Bitcoin's price holding above $83,000 by the week's end dwindling. Reports indicate that Bitcoin's Bear Score has reached a two-year low, which historically correlates with prolonged bear markets.

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