Bitcoin (BTC) experienced a turbulent 24-hour period, marked by an 80.6% drop in ETF inflows and a sharp price decline below $66,699**. Despite the volatility, BTC quickly rebounded above **$67,730, maintaining its $1.322 trillion market cap.
Economic Data Sparks Market Volatility
The latest U.S. Consumer Price Index (CPI) data fueled inflation concerns, triggering speculation about the Federal Reserve’s monetary policy. Analysts now anticipate prolonged high interest rates, pressuring Bitcoin’s price downward.
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Global Market Reactions
Bitcoin’s dip mirrored losses in gold and the Nasdaq index, with analysts predicting a potential drop to $60K before the anticipated Halving Rally. Key observations:
- Liquidations: Over $680M** in assets were liquidated, with **$545M from long positions.
- Market Sentiment: Short-term leveraged trades present opportunities amid corrections.
Expert Perspectives
- Greta Yuan (VDX): Attributes BTC’s pullback to overheating after rapid gains.
- Adrian Wang (Metalpha): Suggests pre-halving market adjustments.
- QCP Capital: Remains bullish, citing strong ETF demand and bullish $100–150K BTC call options.
FAQs
Why did Bitcoin drop 7%?
Inflation fears from U.S. CPI data and Fed rate hike rumors triggered the sell-off.
Will Bitcoin recover?
Analysts expect short-term dips but remain optimistic long-term due to ETF inflows and halving dynamics.
How severe were liquidations?
$680M** was liquidated, affecting 193K+ traders, with longs losing **$545M.
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Key Takeaways
- Bitcoin’s volatility reflects macroeconomic uncertainties.
- Long-term bullish sentiment persists despite corrections.
- Halving events and institutional demand remain pivotal drivers.
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