Michael Saylor comments on Bitcoin's decline below $68,000

Michael Saylor, co-founder of MicroStrategy and one of Bitcoin's most prominent advocates, posted a tweet expressing his confidence in the largest cryptocurrency by market capitalization, after the price of Bitcoin suddenly fell below $68,000.

Saylor's tweet included an artificial intelligence-generated image showing Bitcoin surrounded by bees, which he captioned, "Bitcoin is a swarm of cyber hornets."

Impact of economic factors:

Bitcoin prices have been affected by several economic factors.

The personal consumption expenditures (PCE) price index rose slightly by 0.25% in April, after a year-on-year change of 2.75%, a three-year low.

Although these numbers were expected by analysts, Bitcoin saw a 2.14% decline in three consecutive red candles, falling from $68,608 to $67,712.

However, the coin saw a slight rebound today, pushing its price slightly higher.

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