Macroeconomic Uncertainty Drives Bitcoin Down as Consumer Confidence Remains High

Recent macroeconomic shifts are impacting cryptocurrency markets, with Bitcoin seeing a significant drop below $110,000 following the release of the latest Consumer Confidence report. This report from the Conference Board (CB), known for its influence on market volatility, contributed to this decline. The report indicates consumers remain optimistic despite recent economic uncertainty and high inflation expectations. However, experts point out that these positive consumer sentiment levels could impact the Federal Reserve’s decision regarding interest rates.