$BTC Tanks 4.4% on Recession Fears đ„đ€ #Bitcoin plummeted by 4.4% to $61,000 following the release of the July US employment report, đ which ignited concerns about a potential recession. âïž
Smaller cryptocurrencies like $ETH and $SOL experienced even steeper declines due to their lower liquidity. đ
According to Matthew Graham, founder of Ryze Labs, several factors are currently impacting #BTC 's price, including: đ
(1) Interest rate cuts: The potential for reduced interest rates could influence Bitcoin's value. đ€
(2) Trump vs. Harris: The outcome of the upcoming election and its potential impact on cryptocurrency policies. đŠ
(3) Cryptocurrency policy overhaul: The possibility of a significant shift in cryptocurrency regulation under a Kamala Harris administration. đ€
As the market grapples with these uncertainties, investors are closely monitoring developments for clues on Bitcoin's future trajectory. DYOR! #recession #TrumpCryptoSupport #cryptoregulation
