The king of crypto is feeling the pressure. Bitcoin has tumbled below the $110,000 mark for the first time in over a month, as the party from last week’s rally officially comes to an end.
What caused the hangover? It started when the initial euphoria from Fed Chair Powell’s talk of rate cuts wore off.
Then, a crypto whale made a colossal move, dumping a staggering $2.6 billion worth of BTC onto the market.
This triggered a cascade of automatic liquidations, pushing prices down further. Adding fuel to the fire, President Trump’s sudden dismissal of Fed Governor Lisa Cook injected a fresh dose of political uncertainty into the mix, reminding investors that macroeconomic winds are shifting unpredictably.
