"The price of Bitcoin has declined dramatically in recent weeks, and cryptocurrency investors are more fearful than ever. In the past 24 hours, the crypto king dipped to the $60,000 range-a low it has not seen since October 2024. While Bitcoin has now recovered slightly to around $66,000, many analysts and investors still think the token may not have bottomed out yet."
"Like most cryptocurrencies, Bitcoin (BTC) has been steadily falling almost since the year began. As Fast Company previously reported, there were two main drivers for this fall. The first is increased geopolitical uncertainty. Since the year began, America attacked Venezuela, threatened to take Greenland by force from one of its most important European allies, and is now in a standoff with Iran. Military conflict almost always affects markets, but until it happens, no one can predict by how much or in what direction."
Bitcoin fell sharply into the $60,000 range — its lowest since October 2024 — then recovered to roughly $66,000, with many analysts warning the decline may continue. The downward trend began near the start of the year and persisted as investors grew more risk-averse. Two main forces drove the selloff: heightened geopolitical uncertainty, including U.S. military actions and a standoff with Iran, which pushed capital toward safe havens; and a stronger U.S. dollar following the announcement of Kevin Warsh as the next Federal Reserve chair, which increased dollar value and pressured cryptocurrency prices.
Read at Fast Company
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