Bitcoin drops to $27,000
On the morning of June 12, Bitcoin (BTC) at one point fell to $27,249, the lowest value level since the $26,700 mark on May 12 – the time when LUNA-UST collapsed. $26,700 is also BTC’s lowest bottom since December 2020.
The main reason for the market’s decline may stem from the high inflation and rising interest rates, dragging the stock market and the crypto market down together.