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Bitcoin Slips Below $90K As Ether Plummets Amid Market Turmoil

Bitcoin and Ether tumbled to multi-month lows on Tuesday amid a broad cross-market sell-off and lingering fallout from last week’s $1.5 billion ether hack at crypto exchange Bybit. The market’s latest downturn highlights the fragility of even the world’s largest digital assets during periods of heightened uncertainty.

Bitcoin’s Price Slide

The flagship cryptocurrency, Bitcoin, dropped as much as 6% to $88,245—its lowest level since November and the first time it has dipped below $90,000 since mid-January. This breach of a key psychological barrier underscores investor apprehension as market volatility intensifies.

Ether’s Sharp Decline

Not far behind, Ether, the second-largest cryptocurrency by market value, shed up to 11% at one point, falling to $2,333. This marks its steepest drop since October, as traders continue to grapple with the aftershocks of the recent security breach.

In a turbulent environment, these movements serve as a stark reminder that even established cryptocurrencies remain vulnerable to external shocks and systemic market pressures. As the sector navigates this challenging phase, market participants are closely watching for signs of stabilization amid ongoing uncertainty.

Donatella Versace Steps Down After 30 Years At The Helm of Fashion Empire

After nearly three decades steering the iconic Versace brand, Donatella Versace is stepping down from her role as head of the fashion house. The 69-year-old Italian designer, who inherited the reins from her late brother, Gianni, following his tragic murder in 1997, will remain with the company as its Chief Brand Ambassador. She is set to pass the creative torch to Dario Vitale, the former design and image director of Miu Miu, who will take on the position of Chief Creative Officer.

In her Instagram announcement, Donatella shared her thoughts: “Championing the next generation of designers has always been important to me,” she wrote, expressing her excitement for Vitale’s appointment. “I am thrilled that Dario Vitale will be joining us, and I am eager to see Versace through new eyes.”

While her new role shifts focus, Donatella’s deep connection to Versace remains unchanged. “Versace is in my DNA and always in my heart,” she declared. Donatella’s stewardship has firmly cemented the brand as a staple in the luxury fashion industry, with designs worn by global superstars like Dua Lipa, Angelina Jolie, and Sabrina Carpenter.

In a heartfelt reflection, Donatella expressed her gratitude: “It has been the greatest honour of my life to carry on my brother Gianni’s legacy. He was the true genius, but I hope I have some of his spirit and tenacity.” Despite her transition, she reaffirmed her commitment to the brand’s future, adding: “I will remain Versace’s most passionate supporter.”

The announcement was met with a wave of tributes from the fashion world. Celebrities like actor Damian Hurley, singer Sabrina Carpenter, and model Iris Law shared their admiration for the designer’s contribution to the industry. “We love you forever,” Hurley commented, while Carpenter called her “one and only,” and Law posted, “Love you so much.”

This shake-up in leadership comes as speculation mounts that Prada Group may be eyeing a potential acquisition of Versace from its current owner, Capri Holdings, which purchased the luxury brand for €2 billion in 2018. As Donatella steps into her new role, the future of Versace remains closely watched by both fans and industry insiders.

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