Why is Bitcoin going down?
Some analysts describe BTC's pullback from record highs as a typical bull breather seen after sharp uptrends. "The recent strong [U.S.] CPI data has further cooled the expectation of a Fed rate cut, and gold prices have also tumbled
The decline is linked to multiple factors. One is the fact that traders are beginning to take profits off the table, while the other is uncertainty about when interest rates will be cut in the US. Bitcoin has suffered a sharp pullback from record highs.
