Why crypto market has plummeted and what’s next for Bitcoin – DL News
- Bitcoin is back below $100,000.
- The price fall came amid strong economic data in the US.
- Market analysts are considering the impact of macro factors on Bitcoin’s price.
Bitcoin’s Trump-era hype is facing a reality check.
The top cryptoasset’s latest rally came to a screeching halt and tumbled to $95,000 on Wednesday, a 7% slump this week. The broader crypto market also shed 7% of its value to $3.48 trillion in the last 24 hours.
The plunge coincided with strong economic data from the US on Tuesday including a surge in job openings and manufacturing.
These positive economic numbers reinforce Federal Reserve Chair Jerome Powell’s position that reducing the pace of interest rate cuts this year might be enough to manage…
