Bitcoin drops to $58K on high US PCE inflation as trader sees 'manipulation'
CoinTelegraph·
60-second summary
Bitcoin plummets to 21-month lows at $58K as stock market volatility surges, accompanied by three-year highs in US PCE inflation, resulting in $600 million in hourly crypto liquidations. Market anxiety intensifies as inflation data fuels recession fears, prompting investors to reassess risk, potentially leading to further cryptocurrency price drops and increased market volatility.
Bitcoin fell to 21-month lows as stock market volatility accompanied three-year highs in US PCE inflation, leading to $600 million in hourly crypto liquidations.