Bitcoin (BTC) Crashes Below $27K On These Three Factors
-BTC’s recent crash was triggered by higher-than-expected U.S. inflation data.
-There were also other factors driving investors out of crypto, including a possible implosion of the Terra blockchain.
-BTC is now on the verge of losing nearly 66% since a record high hit in November.
-Veteran analyst Peter Brandt sees $27,000 as a possible low.
-The Fed’s hike earlier this month had also caused heavy losses in BTC.
-Given that BTC’s correlation with U.S. stock markets is at a record high, it seems likely that losses in equities spilled over into the token.
-The pace of losses in risk markets is yet to slow down.
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