Bitcoin has plunged to a 21-month low, driven by anticipated interest rate hikes and worries over a major corporate buyer's shifting strategy. Investors are pulling funds from Bitcoin ETFs as the US dollar strengthens. Concerns are mounting that MicroStrategy, a significant Bitcoin holder, might reduce its holdings, adding to the downward pressure on the cryptocurrency, which has now fallen over 50% from its peak.
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Bitcoin has plunged to a 21-month low, driven by anticipated interest rate hikes and worries over a major corporate buyer's shifting strategy. Investors are pulling funds from Bitcoin ETFs as the US dollar strengthens. Concerns are mounting that MicroStrategy, a significant Bitcoin holder, might reduce its holdings, adding to the downward pressure on the cryptocurrency, which has now fallen over 50% from its peak.
