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Bitcoin Below $60K: What's Affecting the Decline?
Although there are hours left for the halving, which takes place every 4 years in Bitcoin, the price saw below 60 thousand dollars last night.
Bitcoin, TSI saw below 60 thousand dollars on many cryptocurrency exchanges yesterday evening. Even if Bitcoin recovered in a short time, it fell back to $61,000 with the reaction it ate from $62,200. In parallel, Bitcoin has fall more than 4% in the last 24 hours.
Along with the Bitcoin, altcoins also retreated by 5% to 6%. According to data from CoinGlass, the fall led to the explosion of long $184 million position.

It is estimated that the decline in the Bitcoin price occurred after the statements of the US Central Bank (FED) chairman Jerome Powell. Powell said in Washington on Tuesday that the Fed would not hit its 2% inflation target anytime soon.

Powell also stated that given the progress made in inflation, it would be appropriate to continue the current tight policy for a while.

According to data from CoinGecko, Bitcoin is trading at $60,996 at the time of writing.
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