Bitcoin drops below critical support level as dollar gains strength before Powell’s speech

Bitcoin (BTC) dropped over 1% to 121,500 USD as the dollar index reached 99.10, the highest since August, affecting the broader crypto market including significant declines in BNB and ETH.

Amidst this shift, 426 million USD flowed into U.S.-listed spot ETFs, indicating robust inflows over the past week. Traders are keenly anticipating Jerome Powell’s speech for future monetary policy insights.

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