Bitcoin Plunges as Macro Threats Mount
The Bitcoin price has dropped below $77,000 after rallying above $79,000 on Monday.
This decline strengthens the possibility of a correction toward the $70,000, $71,000 region, particularly if Bitcoin confirms the rounded-top pattern developing on its chart.
Four macro threats are currently weighing on the market: rising US bond yields, expensive oil, and simultaneous Federal Reserve and Bank of Japan tightening.