Bitcoin Encounters Substantial Decline in Price

The recent decrease in the value of Bitcoin can be primarily attributed to the findings of the S&P Global Purchasing Managers’ Index (PMI) report, which indicates that the United States economy is thriving. As a result, the value of the dollar has increased, placing significant strain on high-risk assets such as cryptocurrencies. The PMI report revealed that the economy experienced its most rapid growth in two years, causing investors to adjust their expectations regarding interest rate reductions. Consequently, this situation intensified the pressure on Bitcoin and other digital currencies. For the most up-to-date financial and business news, visit COINTURK FINANCE.