Bitcoin tumbles back to key $60K support level: What’s behind the sell pressure?

60-second summary

Bitcoin tumbles back to its key $60K support level as renewed sell pressure mounts amid an oil price surge and Japan economic contagion risks, with some strategists initiating fresh rounds of selling. This sell-off is driven by concerns over inflation, market volatility, and potential economic downturns, weighing heavily on investor sentiment and market stability.