Bitcoin's price fell from $74,000 to $71,000 following a significant decline in major U.S. stock indices after 18:00 yesterday. This downturn also affected the altcoin market. However, the impact was short-lived, with prices stabilizing by this morning. Despite Federal Reserve Chair Powell's hawkish remarks on inflation risks due to regional conflicts, the market had already priced in these factors, making the Fed's rate decision unsurprising. As the quarterly settlement week approaches, Bitcoin may experience low volatility unless major events occur.
Bitcoin Drops to $71,000 Amid U.S. Stock Market Decline
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