Bitcoin Hits 21-Month Low Amid Rising Inflation and Market Volatility
The price of Bitcoin has fallen to $58K, its lowest in nearly two years, as high US PCE inflation and stock market instability lead to significant liquidations in the crypto sector.
Editorial Staff
1 min read
Updated 6 days ago
Bitcoin's price has dropped to $58K, marking a significant decline to levels not seen in 21 months. This downturn coincides with rising volatility in the stock market.
The US PCE inflation rate has reached three-year highs, contributing to the current economic uncertainty that is affecting various markets, including cryptocurrencies.
As a result of these conditions, the crypto market has experienced approximately $600 million in liquidations within just one hour, reflecting the heightened risk and rapid changes in investor sentiment.