Bitcoin Fell Down The Maypole? Apex Coin Suffers First Monthly Loss Of 2023 — Price Now Below $27K
Portfolio Pulse from Mehab Qureshi
Bitcoin (BTC) experienced its first monthly loss of 2023, falling below $27,000. The decline is attributed to ebbing liquidity, restrictive monetary policy, and increased activity from meme coins like Ordinals, causing congestion and high transaction fees on the Bitcoin network.
June 01, 2023 | 6:56 am
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Bitcoin's price fell below $27,000, marking its first monthly loss of 2023. Factors include ebbing liquidity, restrictive monetary policy, and increased meme coin activity.
The decline in Bitcoin's price is due to ebbing liquidity and restrictive monetary policy, which led to weaker investor enthusiasm for crypto. Additionally, increased activity from meme coins like Ordinals caused congestion and high transaction fees on the Bitcoin network, further contributing to the price drop.
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