Bitcoin Price Sees Unexpected Volatility 📉
Bitcoin (BTC) recently encountered significant price fluctuations, dipping to $62,498 on August 1, its lowest in two weeks. This decrease is attributed mainly to reduced expectations for a rate cut in the US. Additionally, the distribution of 47,000 BTC from the bankrupt Mt. Gox contributed to the price drop.
The combination of these factors created an unforeseen impact on Bitcoin's market value, highlighting the currency's sensitivity to macroeconomic changes and external supply shifts.
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