Bitcoin (BTC) Can Fall Another 20% Due to Its Correlation With S&P 500

Following the higher-than-expected CPI inflation data on Tuesday, Bitcoin and the broader crypto market witnessed a sharp fall. Currently, Bitcoin is trading at 8.4% over the last 24 hours holding just above its crucial support of $20,000. Bitcoin’s price crash came alongside that of the S&P 500 dropping 4.5% and slipping under $4,000. As on-chain

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