2024

Swarm

Bitcoin

Cyber

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Prominent Bitcoin advocate and the co-founder of the MicroStrategy business intelligence giant <a href="https://u.today/michael-saylor-celebrates-important-bitcoin-anniversary-details" rel="noopener noreferrer nofollow">Michael Saylor</a> has published a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it has suddenly lost the $68,000 price level overnight.
Saylor’s tweet contains an AI-generated image with an image of a physical Bitcoin and bees, stating: “Bitcoin is a Swarm of Cyber Hornets.”
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 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is a Swarm of Cyber Hornets. <a href="https://t.co/hbUEt1G9EN" rel="noopener noreferrer nofollow">pic.twitter.com/hbUEt1G9EN</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1796821645065105744?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 1, 2024</a>
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Certain macroeconomic factors have influenced this sudden Bitcoin price decline. The personal consumption expenditures (PCE) price index faced a <a href="https://u.today/bitcoin-btc-price-reacts-to-us-macro-data" rel="noopener noreferrer nofollow">small rise of 0.25% in April</a>, after a 12 month change of 2.75% — that proved to be a three-year low for this metric.
Even though this was in line with analysts’ expectations, Bitcoin still went down by 2.14% in three consecutive red candles, from $68,608 to the $67,712 level. Today, a small rebound took place, pushing the largest crypto up slightly.
As reported by U.Today, major Japan-based cryptocurrency exchange DMM Bitcoin has faced a massive hack with more than <a href="https://u.today/300-million-in-bitcoin-lost-after-major-japanese-crypto-exchange-hack" rel="noopener noreferrer nofollow">$300 million worth of crypto taken away</a> by anonymous hackers — 4,502 BTC.
According to data provided by Chainalysis, this was the largest hack of a crypto trading platform since 2022 and the seventh biggest one in history of the crypto industry.

Michael Saylor Breaks Silence on Bitcoin Dropping Below $68,000

U_Today

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