$BTC Since yesterday, it has lost nearly $2000 in value, which has dragged popular coins down. It was a missed opportunity to profit from the decline. Don't miss your chance to earn on the rise!)
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According to (Economic Times and (Barron's), this decline is caused by several factors:
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1. Profit-taking ahead of the release of inflation data in the US: Investors decided to secure profits after the recent rise in Bitcoin's price, awaiting the publication of inflation data in the US, which could affect the further movement of the market.
2. Decreased interest in Bitcoin in favor of altcoins: While Bitcoin experienced a slight decline, some altcoins like Ether, XRP, and Solana showed growth. This indicates a redistribution of investments from Bitcoin to other cryptocurrencies.
3. Macroeconomic factors and political events: The announcement of a temporary suspension of tariffs between the US and China initially contributed to the rise of Bitcoin, but later the price fell, indicating market instability and a shift in investor sentiment.