Bitcoin’s price recently fell to a nine-month low of $82,134, driven by rapid changes in global financial policies and the announcement of the new chairman of the U.S. Federal Reserve by the President. During this period, liquidations in the market surged significantly, reaching up to $1.7 billion. Liquidation refers to investors closing their positions and selling large amounts of assets, which puts additional downward pressure on prices. As the world’s largest cryptocurrency, Bitcoin has become a popular investment vehicle in recent years. Its price fluctuations depend on global financial conditions, government policies, and investor sentiment. Recent policy shifts, especially indications of tighter monetary policy from the U.S. Federal Reserve, have affected stability in the crypto market. Furthermore, the announcement regarding the new Fed chairman has increased uncertainty among investors, leading to a rapid selling trend. This volatility in Bitcoin’s price could further heighten uncertainty in the crypto market, posing risks to investors. While price fluctuations are common in cryptocurrencies, the impact of global financial institutions’ policies is particularly significant. If global financial policies remain stringent, further declines in the crypto market are possible, whereas positive economic signals could bring price stability.
Source: decrypt
