Bitcoin's price dropped below $60,000, reaching a low of $58,112 today. This decline has left the crypto community puzzled, especially after recent speculations about a 50 basis points cut in Fed rates, which initially sparked rallies in stocks, crypto, and gold.
Moreover, political chaos surrounding the upcoming 2024 US presidential election is adding to market instability, including assassination attempts on Donald Trump. These factors suggest a complex interplay affecting Bitcoin's current price drop.
