U.Today – Prominent advocate and co-founder of business intelligence giant MicroStrategy, Michael Saylor, posted a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it suddenly lost the $ price level 68,000 overnight.
Saylor's tweet contains an AI-generated image with an image of a physical Bitcoin and bees, saying: “Bitcoin is a swarm of cyber hornets.”
Certain macroeconomic factors have influenced this sudden drop in the price of Bitcoin. The Personal Consumption Expenditures (PCE) Price Index faced a small increase of 0.25% in April, after a 12-month change of 2.75%, which turned out to be a three-year low for this metric.
Although this was in line with analyst expectations, Bitcoin still fell by 2.14% in three consecutive red candles, from $68,608 to the $67,712 level. There was a small rally today, pushing the largest cryptocurrency up slightly.
As reported by U.Today, major Japan-based cryptocurrency exchange DMM Bitcoin has faced a massive hack in which more than $300 million worth of cryptocurrency was taken from it by anonymous hackers – 4,502 BTC.
According to data provided by Chainalysis, this was the largest hack of a cryptocurrency trading platform since 2022 and the seventh largest in the history of the cryptocurrency industry.
This article was originally published on U.Today.
