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Bitcoin Slumps Below $85,000 Amid Stronger PMI Data

Guavy AI Editorial Team
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BTC
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Bitcoin's recent rally has lost steam after reaching an all-time high of $87,397 on September 21. The price dropped sharply after stronger-than-expected PMI data caused Treasury yields to rise and led to a sell-off of $125.9 million in long positions.

The flagship cryptocurrency is currently trading at around $83,698, down 2.58% over the past 24 hours. This pullback may indicate that investors are taking profits from the recent price surge.

Bitcoin's price volatility remains a concern for investors, and this latest decline highlights the need for caution in the cryptocurrency market.

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