Urgent warning:

Bitcoin market oscillates! BlackRock issues warning signal?

At the beginning of the month, Bitcoin briefly touched the $70,000 mark, but then quickly entered a downward channel, and the overall market value evaporated by up to $300 billion, making the $4 trillion milestone target out of reach.

This plunge is closely linked to the high interest rate warning issued by US Treasury Secretary Yellen at the beginning of the month. Yellen pointed out that high interest rates make it difficult for the fiscal department to control deficits and interest expenses, and may also have a major impact on cryptocurrency markets such as Bitcoin. This view directly touched the sensitive nerves of cryptocurrency investors, causing crypto market assets to continue to fall.

In addition, BlackRock, the main issuer of Bitcoin ETFs, also warned that the unprecedented situation will hit Bitcoin prices and markets. BlackRock analysts pointed out that in order to cope with inflationary pressures, central banks need to keep interest rates above pre-epidemic levels, and hinted that this turbulent situation may continue for some time.

This trend has been reflected in the price trend of Bitcoin. Since hitting a high of $71,907 on June 7, Bitcoin has fallen nearly 10% and is currently hovering around $64,319.

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