Bitcoin drops to $58K on high US PCE inflation as trader sees 'manipulation'

Bitcoin fell to 21-month lows as stock market volatility accompanied three-year highs in US PCE inflation, leading to $600 million in hourly crypto liquidations.

Bitcoin (BTC) hit new 21-month lows at Thursday’s Wall Street open as high US inflation unsettled stock markets.

Key points:

Bitcoin returns to its lowest level since September 2024, dropping to $58,000.

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