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The value of the digital asset dropped by as much as 5.7%, briefly falling below $66,000 for the first time since March 24. This decline is part of a broader trend in the crypto market, which is losing momentum due to concerns about US inflation and a potential decrease in Federal Reserve interest rates. The sell-off has affected various sectors, including meme-related assets. Bitcoin, in particular, has seen a 10% decrease since reaching its peak in mid-March. The recent weak economic data from the US, along with increased input costs, has further contributed to the market's decline. Despite expectations of a halving in the supply of new Bitcoin tokens, some traders believe that further gains may be challenging to achieve, given the significant price increase already experienced.

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