#MarketPullback

The cryptocurrency market is experiencing a notable pullback, with Bitcoin trading around $94,148, reflecting a 1.3% decline. This downturn is influenced by global economic uncertainties, including rising interest rates and escalating trade tensions. The U.S. government's imposition of new tariffs on imports from countries like China, Mexico, and Canada has heightened inflation concerns, prompting central banks to consider rate hikes. Higher interest rates make borrowing more expensive and reduce the appeal of speculative assets like cryptocurrencies. Additionally, regulatory uncertainties and recent security breaches have shaken investor confidence, leading to a cautious market sentiment. Despite these challenges, some analysts view this correction as a consolidation phase, potentially setting the stage for future growth.