$BTC price has dropped rapidly and has caused a $300 billion market loss, which caused bitcoin to go below the $4 trillion milestone.
According to US Treasury Secretary and other similar crypto currency could destabilise due to potentially high interest rates in the future. A major player of bitcoin ETF, BlackRock has also raised concerns over unprecedented price drops which are being treated as a warning in the trading world. BlackRock prediction says that central banks are to maintain high interest rates to counter the inflation, affecting the market and prolonging volatility and uncertainty of the market.
Remember, $BTC went from $71,907 on June 7th to around $61,460 now. Traders be careful!