Summary
Bitcoin prices dropped ahead of the halving, causing a market-wide decline with majors dropping as much as 18% from last week’s highs.
Key Points
1. Profit taking ahead of the halving event caused a drop in Bitcoin prices from $70,500 to $62,800.
2. Macro economic concerns also contributed to the market-wide decline, with majors dropping as much as 18%.
3. The drop in Bitcoin prices may be a result of investors taking profits and concerns about the broader economic environment.