Free fall: What caused Bitcoin to go back months?

Bitcoin's price fell below $65,000, a 14% drop in the past week and 25% since the beginning of October. The causes: weakness in the Nasdaq, tensions in the Middle East, inflation, and expectations of an interest rate hike. The liquidation of leveraged positions totaling more than $1 billion exacerbated the declines.

Bitcoin's price fell today (Saturday) for the first time since August below $65,000, completing a decline of about 14% in the past week and more than 25% compared to the beginning of October. The article notes that there is no single reason for the fall, but a combination of factors: the declines in the Nasdaq, tensions in the Middle East, disappointing inflation data in the US, and expectations of an interest rate hike by the Fed. An amplifying factor is the wiping out of leveraged positions totaling more than $1 billion in one day, leading to forced sales. The article asks whether this is a temporary correction or a change in trend, and notes that Bitcoin has enjoyed growing adoption by institutional bodies but is sensitive to macro conditions.