Crypto NewsBitcoinSharp Fall in Bitcoin (BTC) and General Market! Could this be the...

Sharp Fall in Bitcoin (BTC) and General Market! Could this be the source?

According to the latest data, there has been a sharp decline in Bitcoin and the general cryptocurrency market in addition to the drop during the day. So why did Bitcoin crash?

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In addition to the declines during the day, the Bitcoin (BTC) price has lost approximately 1.5% in the last 1 hour and fell to the lowest level of $ 27,300 at the time of this writing.

With the deepening of the decline in the BTC price, the losses in the world's largest crypto money reached 5.2% for 24 hours at the bottom.

At the time of this writing, the BTC price is trading at $ 27,500.

The chart showing the decrease in BTC price during the day.

However, it should be said that there are a few claims, although the source of these decreases is not known exactly.

The first of these was shared on Twitter from an anonymous account named Andrew. The account, which has 34,000 followers, claimed that the SEC was preparing to personally intervene in Binance, Binance US and even Binance CEO Changpeng Zhao, citing its own sources.

The same account further claimed that the SEC, as well as the US Department of Justice, could file a lawsuit against the companies and CZ for alleged money laundering.

It is not known whether these unconfirmed claims were among the reasons for the recent decline. For now, these are just allegations. It is also known that such allegations are usually FUD, that is, fake news made to spread fear.

In addition, it is stated that the high number of transactions in the BRC-20 network, which is the popular topic of recent times, clogging the BTC network may be one of the factors causing the decrease. Because the transfer fees on the Bitcoin network have increased 20 times compared to the previous week.

*Not investment advice.

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