Bitcoin crashes to $65K as inflation fears spike — bet against the crypto bleed on Coinbase
Bitcoin just suffered a massive crash down to $65,000, wiping out nearly two billion dollars of leveraged trading bets. At the same time, the Federal Reserve reported that inflation is heating up again, which usually spells trouble for risky investments like crypto.
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A sudden drop of this magnitude often triggers a chain reaction where traders are forced to sell their holdings to cover losses, driving the price down even further. The broader economic environment is making things worse, as newly reported higher inflation means interest rates will likely stay high, draining money away from speculative assets like Bitcoin. With support at $60,000 as the next major test, the downward momentum looks likely to continue. Betting against Bitcoin or selling crypto-related stocks like Coinbase could pay off if the market keeps panicking.