The post Why Did Bitcoin Fall? How Low Can BTC Price Drop? appeared first on Coinpedia Fintech News
Over the weekend, Bitcoin dropped 5.6%, tumbling to around $62,500 after relative stability to $62,243 in the past week. Ethereum, Solana, XRP, and others are down. Market cap fell 3% to $2.42 trillion, indicating a downbeat trend. Crypto Banter, a popular YouTube channel known for its insightful analysis, cautioned against weekend price gains, calling them low liquidity, often leading to volatile reversals.
Factors Leading to Bitcoin Dump
According to Crypto Banter, this decline, along with a bloodbath in altcoins, was attributed not to crypto itself but rather to concerns related to the Japanese Yen’s devaluation against the US dollar. This depreciation raised alarms about the economic health of Japan, the world’s third-largest economy.
Notably, Japan’s persistent policy of maintaining near-zero interest rates and its soaring debt-to-GDP ratio has heightened fears
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