Why Did Bitcoin’s Price Drop and How Low Might It Go?

Today, Bitcoin’s price significantly dropped to a three-week low of $66,825, marking a 6.75% decrease from last Friday. This decline responds to U.S. monetary policy fears, especially with looming inflation and interest rate updates. Concurrently, May’s payroll report contributed to market unease. Additionally, heavy withdrawals from Bitcoin exchange-traded funds (ETFs) exacerbated the decline. Many analysts […]