Bitcoin Plunges Amid Interest Rate Fears

Bitcoins recent drop of over eight percent, alongside crypto-related stocks, has dampened hopes for a year-end rally. The worlds largest cryptocurrency fell from around ninety-one thousand dollars to eighty-four thousand dollars due to interest rate concerns. Historically similar situations, like the eighteen percent drop in August 2021, suggest more market volatility. Despite optimism, bitcoin ETFs saw significant outflows. A sustained rally seems unlikely in the short term, with analysts awaiting clear signs of a market bottom.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.