Based on Captainaltcoin, the recent sharp decline in Bitcoin's price and the broader crypto market is attributed to a breakdown in the global monetary system rather than a failure of Bitcoin itself. The article explains that rising bond yields, particularly in Japan, signaled a potential end to decades of ultra-loose monetary policy, triggering a repricing of risk assets. High leverage and thin liquidity exacerbated the sell-off, leading to forced liquidations and a rapid drop in BTC price. The Federal Reserve's halt of Quantitative Tightening and signs of economic strain further contributed to the market turmoil. The piece argues that Bitcoin is behaving as a macro asset, reacting to global financial conditions rather than functioning as a detached digital gold.
Bitcoin's Price Drop Linked to Global Monetary System Shifts
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