Bitcoin’s Sudden Surge and Retreat Sparks Market Uncertainty

Bitcoin experienced a dramatic price swing on June 16th, rising to $107,114 before quickly retreating to around $102,579. This volatile fluctuation contributed to a decrease in the total cryptocurrency market value by 2.7%, reaching approximately $3.36 trillion. Analysts are grappling with how to explain this unexpected volatility and its impact on the stability of digital currencies. What triggered Bitcoin’s rapid rise?