CoinGape: Bitcoin (BTC) Price Slump Hints Major Trouble Ahead for Global Markets
📉 Bitcoin Price Decline: This week, Bitcoin (BTC) has experienced a sharp 4.5% drop, trading at $57,453 and signaling potential trouble for global markets. 🌍
📉 Bitcoin's Weekly Outlook: On the weekly chart, Bitcoin has extended losses with expectations of further decline towards $50,000 after a 16% drop in April, its worst month since November 2022. Investors closely watch Bitcoin for insights into liquidity dynamics impacting other assets. 💰
🏦 Fed's Impact: The Federal Reserve's decision to maintain interest rates between 5.25% to 5.50% has tightened financial conditions, increasing Treasury yields and the dollar's value. Many hoped for a rate cut to boost equity markets and cryptocurrencies but face uncertainty as Jerome Powell intends to hold rates steady until inflation eases. 🏛️
