Bitcoin (BTC) Eyes Crash Below $25K As These 3 Factors Weigh

Bitcoin (BTC) losses deepened over the weekend, with the token slumping to its lowest level since late-2020 amid a flurry of sell signals.

BTC crashed 20% in the last two days and is now trading marginally above $25,000. The token’s market capitalization has also slumped below $500 billion.

While BTC’s latest round of losses were triggered by overheated U.S. inflation data, a mix of other negative indicators caused sharp selling over the weekend.

Rising inflation is now expected to spur a bigger-than-expected interest rate hike by the U.S. Federal Reserve this week, creating more headwinds for BTC.

Trouble in the DeFi space also worsened crypto sentiment as major player Celsius suspended withdrawals due to a severe liquidity crunch.

Source :https://coingape.com/bitcoin-btc-eyes-crash-below-25k-as-these-3-factors-weigh/