Bitcoin price is officially in a bear market as it is now down over 20% after falling for three consecutive days this week. Investors pulled money out of the crypto market in anticipation of hawkish U.S. Federal Reserve retreat from three interest rate cuts this year.
Stagflation and sticky inflation concerns continue to mount amid no signs of slowing inflation and slow economic growth. The recent PCE data indicated persistent inflationary pressures and Q1 GDP growth of 1.6% showed stagflation. Today’s Fed monetary policy decision and Chair Jerome Powell are crucial for the stock and crypto markets as investors brace for market crash jitters.
Bitcoin Price Falls Over 10% to $56K
BTC price fell over 10% in a day amid panic selling by retail investors after institutional investors considered rising risks to stay away from risk assets. Bitcoin currently changing hands at $57,000. The 24-hour low and high are $56,555 and $62,121, respectively. Furthermore, the trading volume has increase
We współpracy z: https://coingape.com/why-bitcoin-price-dropped-today-when-will-it-recover/
