Recent economic indicators have contributed to a significant drop in Bitcoin’s price, leading to a fall of over $3,000 in hours. The sudden decline comes as the consumer confidence index dropped below expectations, indicating a concerning increase in inflation expectations. This, coupled with concerns about future rate hikes from the Federal Reserve and potential recession risks, has investors wary. 5.2% inflation estimates have risen to 6%, further fueling these concerns. 102.5, according to data released just minutes before, was expected. With economic uncertainty mounting and recession fears on the rise, the crypto market finds itself in a challenging position.