Bitcoin faced a nearly 4% drop despite favorable US CPI data, reflecting the cryptocurrency's inherent volatility. Within 12 hours, Bitcoin rebounded by 3.68%, indicating rapid market fluctuations.
Many traders remain cautious, suggesting that this volatility could drive Bitcoin's price below the critical $60,000 mark. Technical analysis supports this view, indicating potential further declines.
There is speculation that Bitcoin's price could drop as low as $53,000, emphasizing the unpredictable nature of its market movements.
