Free fall! Bitcoin slips 8% to fall below $67,000-mark

Bitcoin lost 8%, falling below $67,000, as bets on a loose Federal Reserve policy and decreased demand for dedicated US exchange-traded funds.

The cryptocurrency was down 7.03 percent as of 07:03 p.m. IST, trading at $66,781.

This year’s digital rally is beginning to wane, and the digital asset fell below $65,000 for the first time since March 24.

On the back of increased production and an increase in new orders, US manufacturing saw its first growth in one and a half years in March. Treasury yields and the dollar have risen as a result of this, which has tempered expectations for a potential rate cut by the US central bank.

The latest News about the fall of bitcoin in 2024 May and June continued as per market may bull run bitcoin start again in 2029  again as per market pervious from start to till now

On Tuesday, Bitcoin reached a new all-time high of $69,200, but in a violent sell-off, it plummeted to as low as $59,700.

According to Coin Glass data, the correction sparked cascading liquidations, flushing out positions in leveraged derivatives worth over $1 billion across all digital assets.

On Tuesday, the price of Bitcoin (BTC) fell more than 10% from its new all-time high due to intense selling on cryptocurrency exchanges, which halted the price rise above $69,000 and brought it down to $60,000 at one point.

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