CandleFocus

Why Are Bitcoin and Altcoins Falling? Here Are All the Reasons in Depth!

The world's largest cryptocurrency, Bitcoin, has dropped below $95,000 as the overall crypto markets face sharp losses. This decline was triggered by strong economic data from the US, which raised concerns about high interest rates and dampened interest in cryptocurrencies. Inflation concerns and the rise in long-term US Treasury bond yields have added to the selling pressure on Bitcoin. Retail interest and investment volume have also declined significantly. The strong US Dollar Index has further added pressure on Bitcoin, although some analysts predict a potential decline in the dollar's strength in the coming months. Several key events in January can also impact market volatility.

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