What are the reasons behind the market's decline? 📉
Following yesterday's surge to a record-breaking $73,800, $BTC has experienced a sharp 9% decline in the past 24 hours, resulting in over $576 million in liquidations.
💰 The primary cause behind Bitcoin's drop to $67.3 thousand is attributed to the US Producer Price Index (PPI) for February, which surpassed expectations by doubling to 0.6% instead of the anticipated 0.3%.
These figures signal sustained inflation, prompting a rise in the dollar index amid speculation that the Federal Reserve might maintain high interest rates for a longer duration.
📊The fate of $BTC promising. But to make sure the gains from BTC remain intact with you , remember to file your taxes on them.
You can always check our Guide to understand how you can save on paying taxes, reduce your tax liability , opt for tax loss harvesting and also manage your portfolio.
Let us know your queries below. 💭
