Bitcoin dips to $65,000 mark as US inflation data looms
Business
Bitcoin dropped 1.5% to around $66,500 on Friday, dipping as low as $65,243 earlier in the day.
The fall comes as traders get nervous about upcoming US inflation data and weak trading volumes.
Analysts say it's a good time to be cautious—maybe slowly build your position near $65K and hedge your bets if you're in the game.
Standard Chartered predicts Bitcoin could drop further to around $50K
Other big names also moved lower—Ethereum and BNB both lost ground, while the entire crypto market cap fell below $2.3 trillion.
Fear is running high right now (the Crypto Fear & Greed index hit just 5).
On top of that, shaky US economic numbers and doubts about tech stocks are making things tough for both crypto fans and traditional investors.
Standard Chartered predicts Bitcoin could drop further to around $50K.