Bitcoin has fallen to its lowest level since February, marking its fourth consecutive decline, due to a combination of factors. These include concerns about potential selling by governments, creditors of the failed Mt. Gox exchange, and struggling crypto miners. The cryptocurrency is now down about 25% from its March record, with the initial excitement around US exchange-traded funds giving way to fears of prolonged high interest rates and political uncertainty. This downturn occurs despite advancing stock markets, highlighting the unique challenges facing the crypto industry. Analysts note a lack of positive buzz in the crypto market and suggest that more dovish monetary policy from the Federal Reserve could help revive the sector.
