#BTC $BTC

Bitcoin has been experiencing significant fluctuations lately. Against the backdrop of a record-long period of inflows of funds into Bitcoin funds, the volume of transfers of Bitcoin coins by miners to exchanges reached a two-month maximum1. This coincided with a fall in the price of Bitcoin below $68 thousand, which was recorded on June 13.

Financial analysts attribute the current situation not only to the actions of miners, but also to the general state of the global economy. The global economic downturn caused by the pandemic and subsequent events such as the war in Ukraine has led to rising inflation and interest rates, which in turn reduces living standards and reduces the freedom of large investors to manage their funds.

The cryptocurrency market has also felt the effects of the freezing of depositor assets and the ban on transfers between accounts by large companies providing loans in cryptocurrency. This caused additional pressure on the market and increased the selling trend.

The situation is aggravated by the fact that cryptocurrencies, unlike traditional assets, are not backed by material values, which makes them especially vulnerable.