**Bitcoin Takes a Hit: Price Drops Amid Market Uncertainty**

Bitcoin's price tumbled 4.1% between Sept. 15 and Sept. 16, falling to $57,595 after failing to break the $60,000 barrier. This drop erased gains from earlier in the week when Bitcoin surged from $57,890 to $60,580 in just ten hours.

Analysts point to a weakening US dollar and significant inflows into Bitcoin ETFs, as well as a $1.11 billion BTC purchase by MicroStrategy, as reasons for the recent bullish trend. However, Bitcoin has struggled to maintain momentum, unable to close above $62,000 for nearly three weeks.

The upcoming Federal Reserve meeting on Sept. 18 could further impact Bitcoin's price. A 0.50% interest rate cut might boost risk-on markets, but a cautious 0.25% cut could dampen enthusiasm. Additionally, slowing economic growth in China adds to the uncertainty.

Investor sentiment has also been hit by regulatory actions. A dormant Bitcoin address moved 211.3 BTC to Kraken, suggesting potential selling by long-term holders. Moreover, the SEC's intensified lawsuit against Binance, classifying several tokens as unregistered securities, has further spooked investors.

In summary, Bitcoin faces significant risks from macroeconomic factors and regulatory pressures, making the near-term outlook uncertain.