🔥 Panic selling sweeps the world, Bitcoin price collapses! 🔥 🔥
Bitcoin crashes: US economic data triggers market shocks
Recently, Bitcoin (BTC) plummeted 1.16% in a very short period of time, setting off a panic selling wave among investors.
This rapid decline in BTC/USDT caused the price to drop to 68,718.89 in an instant, a drop of 1.30%. The direct cause of the plunge was the latest US economic data, which was worrying.
On June 11, the US unemployment rate data was released, which was higher than market expectations. This news severely hit market confidence, and concerns about economic stability continued.
To make matters worse for the market, a report on a US bank's loss of up to $518 billion was accidentally exposed, further heating up market concerns about a wider financial crisis.
The cryptocurrency market reacted quickly and violently. Bitcoin, with a market cap of $1.37 trillion, has felt the brunt of the market's turmoil and insecurity. Trading volume has risen sharply as investors rushed to close positions to avoid further losses.
Despite Bitcoin's 54.22% share of the cryptocurrency market and a circulation of 19.71 million BTC (out of a total of 21 million BTC), the sell-off is another reminder that crypto markets are extremely volatile and vulnerable to external economic factors.
Despite the turmoil, Bitcoin has maintained its importance, with a fully diluted market cap of $1.46 trillion, according to CoinMarketCap. However, the price quickly fell to 68,718.89, once again demonstrating the extreme sensitivity of digital assets to macroeconomic news. #NOT爆 #HIGH #people🔥🔥
This incident once again highlights the importance of staying informed and prepared for sudden market changes, especially in such a volatile cryptocurrency market.
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