Bitcoin drops to $58K on high US PCE inflation as trader sees 'manipulation'
Bitcoin's price dropped to $58,000, reaching a 21-month low amid rising US Personal Consumption Expenditures (PCE) inflation hitting three-year highs. This inflation data contributed to increased stock market volatility and triggered approximately $600 million in cryptocurrency liquidations within an hour. Some traders have suggested that market manipulation may be influencing Bitcoin's price movements.