Bitcoin's value has begun to decrease, undoing earlier increases, as recent macroeconomic indicators suggest that broader economic factors are currently the primary influences. With the Producer Price Index (PPI), Consumer Price Index (CPI), and a speech from Federal Reserve Chair Jerome Powell slated for this week, it's anticipated that Bitcoin's value will continue to face downward pressure and encounter fluctuations.
Bitcoin experienced its lowest point in more than two months as May began, coinciding with the Federal Reserve's decision to maintain interest rates at their current level.
On Thursday, Bitcoin (BTC) briefly fell below the $63,000 mark as the cryptocurrency market experienced a downturn in response to recent data indicating higher inflation and decreased growth in the U.S. during the first quarter.
Amazon.com Inc. became the first in the world to lose $1 trillion in market value because rising inflation, tightening monetary...