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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-experiences-significant-drop-on-august-15/" data-wpel-link="internal">Bitcoin Experiences Significant Drop on August 15</a> 
August 15 does not seem to end well for BTC. The leading <a href="https://en.coin-turk.com/federal-reserve-member-discusses-cryptocurrency-stance/" data-wpel-link="internal">cryptocurrency</a> has been plummeting for several hours. After struggling to maintain key levels, the price failed to close above $60,000. Now, as a result of the selling pressure over the last 2.5 hours, the price has fallen below $57,000. 
<h2 style="text-align: justify" id="why-are-cryptocurrencies-falling">Why Are Cryptocurrencies Falling?</h2> 
Many analysts mentioned the possibility of a new test at $56,000 today. BTC has now dropped to $56,842 after warnings when it was around $59,500. The leading cryptocurrency struggling to close above $57,000 is causing altcoins to hit new daily lows. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-380374 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/BTCUSDT_2024-08-15_22-31-48.png" alt="" width="1815" height="836"> 
There are several reasons for the drop. One reason is the options expiring tomorrow, and another is the increased likelihood of a rate cut below 100bp in 2024 following <a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener" data-wpel-link="exclude">recent data</a>. Before this week’s data, the market was pricing in a 50bp cut for September and expecting more annually. 
Fed members’ statements that there is nothing alarming on the employment front, the World Health Organization’s declaration of a global emergency for the monkeypox virus, and the drop triggered by last week’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> hike in Japan and recession fears should not be overlooked. The safe zone for BTC is closing above $63,000, and for now, it is moving away from that. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-experiences-significant-drop-on-august-15/" data-wpel-link="internal">Bitcoin Experiences Significant Drop on August 15</a></h5>
The post <a href="https://en.coin-turk.com/bitcoin-experiences-significant-drop-on-august-15/" data-wpel-link="internal">Bitcoin Experiences Significant Drop on August 15</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin Experiences Significant Drop on August 15

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