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Bitcoin Flash Crashes as Sentiment Wanes
Bitcoin price has crashed in the past few days as the recent bull run faded. The BTC/USD pair moved to below 110,000, its lowest level since July 9 this year. It has plunged by 12% from its highest point this year, meaning that it is in a correction. Bitcoin crashed as the recent enthusiasm about the Federal Reserve interest rate cuts faded and as investors took profits. In a statement on Friday, Jerome Powell hinted that the bank would cut rates. While the stock and the crypto markets rose initially, things changed on Monday. The Dow Jones, Nasdaq 1o0, and the S&P 500 indices retreated by over 0.50%. Similarly, the ... (full story)
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