Bitcoin Falls to Three-Month Low as Crypto Market Sees Frequent Large-Scale Liquidations; AI Stock Pullback May Further Divert Speculative Funds

Zhitong Finance APP has learned that as Bitcoin prices continue to decline, the cryptocurrency market is facing increasingly frequent large-scale liquidation events. Over the past year, there have been 13 instances in which Bitcoin's single-day liquidation amount exceeded $500 million, three of which exceeded $1 billion. At the same time, persistently high inflation, rising expectations of further Federal Reserve rate hikes, capital outflows from Bitcoin ETFs, and the potential diversion of funds caused by a pullback in the artificial intelligence (AI) sector are putting multiple pressures on the cryptocurrency market.