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Michael Saylor Breaks Silence on Bitcoin Falling Below $68,000 According to U.Today
U.Today – Popular backer and co-founder of business intelligence giant MicroStrategy Michael Saylor posted a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it suddenly lost the $68,000 price level from one day to another.
Saylor’s tweet contains an AI-generated image featuring a physical Bitcoin and bees, stating: “Bitcoin is a swarm of cyber hornets.”
Some macroeconomic factors influenced this sudden drop in the price of Bitcoin. The personal consumption expenditure (PCE) price index recorded a slight increase of 0.25% in April, following a 12-month change of 2.75%, which was a three-year low for this metric .
While this was in line with analysts’ expectations, Bitcoin still fell by 2.14% in three consecutive red candles, from $68,608 to the $67,712 level. A small bounce occurred today, pushing the largest cryptocurrency slightly higher.
As reported by U.Today, the major Japan-based cryptocurrency exchange, DMM Bitcoin, faced a massive hack attack with over $300 million in cryptocurrencies stolen by anonymous hackers: 4,502 BTC.
According to data provided by Chainalysis, this was the largest hack of a cryptocurrency trading platform since 2022 and the seventh largest in the history of the cryptocurrency industry.