It's Big & Big #alert ABOUT $BTC Crash Update !!!
Why Bitcoin Price Dropped Today? When Will It Recover?
Bitcoin price falling to $56K triggered a broader crypto market selloff as traders book profits in anticipation of hawkish Fed and delay in rate cuts.
Bitcoin price is officially in a bear market as it is now down over 20% after falling for three consecutive days this week.
Investors pulled money out of the crypto market in anticipation of hawkish U.S. Federal Reserve retreat from three interest rate cuts this year.
Stagflation and sticky inflation concerns continue to mount amid no signs of slowing inflation and slow economic growth. The recent PCE data indicated persistent inflationary pressures and Q1 GDP growth of 1.6% showed stagflation.
Today’s Fed monetary policy decision and Chair Jerome Powell are crucial for the stock and crypto markets as investors brace for market crash jitters.
Bitcoin Price Falls Over 10% to $56K
BTC price fell over 10% in a day amid panic selling by retail investors after institutional investors considered rising risks to stay away from risk assets. Bitcoin currently changing hands at $57,000.
The 24-hour low and high are $56,555 and $62,121, respectively. Furthermore, the trading volume has increased by 70% in the last 24 hours.
Bitcoin is now down 22% from the all-time high of $73,803 in March, technically putting it in a bear market. But it is still up 35% year-to-date and double where it was this time last year due to large money inflow into spot Bitcoin exchange-traded funds (ETF) since January.
As demand wanes from spot Bitcoin ETF and investors didn’t see any factors for a recovery, they started booking profits, which triggered a broader crypto market selloff.
Macro Pressure Mounts
The US dollar index (DXY) rose to around 106.4 on Wednesday, marching again toward six-month highs as investors brace for key monetary policy decisions from the U.S.
Federal Reserve. The Fed is expected to keep interest rates unchanged amid strong US economic data and hot inflation.
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What to expect from the Hong Kong join to Crypto market ….

Since their joining is first of May there was an inflow of billions into tge crypto that got coins like BTC down #BNB⁩ TO 550 #Solana to almost 100 $

I expect a major bullish before week end
This is the best time to invest
#write2earnonbinancesquare #HongKong2024 #writetoearn

#BNB has been dropping as well as #SOL and the major hot coins .What should we excpect
Is this a sign gor a greater plumpeting to happen $
#writetoearn #write2earn🌐💹#write2earnonbinancesquare

Bitcoin's price is currently struggling to maintain levels above $60,000, down from its peak of $72,700, despite experts estimating the average mining cost to be around $50,000 per BTC. 😮
While market expectations might not have been met yet, the question remains: how long will this downturn last? 💭 With Bitcoin's supply becoming increasingly scarce due to the halving, one might wonder if demand will eventually taper off. 🤔
So far, bears seem to have the upper hand post-halving, but don't count out the bulls just yet! 🐻🐂 With Bitcoin's scarcity and growing adoption, many are gearing up for a long-term bullish trend. 📈💪
What's your take on the current Bitcoin situation? Share your thoughts in the comments below! 💬✨ Let's keep the conversation going! 🔥💬
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Hey guys
How do l get the #REZ airdrops #Airdropairdrop

#MyFirstFeedPost Hello, Binance Square! How do i get the airdrop on renzo