Bitcoin's price reached a 7-week low following the release of US inflation data, leading to volatility in the cryptocurrency market.
Bitcoin Price Drop
Bitcoin's price declined to a 7-week low due to the publication of PCE inflation data in the U.S., resulting in increased market volatility and significant liquidations.
Changes in Investment Strategies
Major holders and institutional players have started reassessing their strategies. The amount of bitcoin held by large investors has decreased, contributing to price drops in the market. Ethereum has become more attractive to institutional investors under current conditions.
Long-term Predictions
Long-term forecasts for Bitcoin remain mixed; some analysts suggest that the price could rise to $256,000 in this cycle. However, the current situation points to increased volatility.
The current financial situation indicates uncertainty, but long-term forecasts for Bitcoin still suggest the potential for growth.
