The recent drop in Bitcoin’s value can largely be attributed to the findings of the S&P Global Purchasing Managers’ Index (PMI) report, which suggests that the US economy is thriving. As a result, the value of the dollar has risen, putting pressure on high-risk investments such as cryptocurrencies. The PMI report revealed that the economy experienced its most rapid growth in two years, which has caused investors to reassess their expectations regarding interest rate reductions. Consequently, Bitcoin and other cryptocurrencies have faced additional strain. Stay up to date with the latest financial and business news by visiting COINTURK FINANCE.
