Bitcoin Plummets: Reasons for the Recent Drop & Market Volatility

The cryptocurrency market is experiencing a downturn this week, as Bitcoin’s price has fallen once again. After losing 2.81% over the past 24 hours, reaching $100,794, it’s now showing a weekly decline of 6.25%. Market experts are attributing these significant drops to a combination of factors, including investor uncertainty sparked by recent economic developments and Fed Chair Jerome Powell’s hawkish statements. ,