Bitcoin's Rollercoaster Ride: From Record Highs to Grayscale's Massive Transfer
Bitcoin's price tumbled to $67,000 during Asian trading hours, down 7% before recovering to around $68,500, tracking losses in gold and Nasdaq. Analysts attribute the drop to fading Fed rate cut bets and a market adjustment to uncertainties ahead of the next month's mining reward halving. Despite the pullback, the broader uptrend is expected to remain intact as long as demand for spot BTC ETFs persists, with some volatility anticipated over the weekend as the market prepares for the release of Federal Open Market Committee minutes next week.