Bitcoin Price Hits Lowest Level Since February Amid Shift in Market Sentiment

Bitcoin's price has dropped to $65,385, its lowest level since February, according to market data. This decline coincides with the S&P 500 and Nasdaq 100 indices reaching record highs, prompting investors to shift their focus away from cryptocurrencies.

The recent downturn in Bitcoin's price can be attributed to a broader market trend where traditional equities are outperforming cryptocurrencies. As investors become increasingly drawn to stocks, particularly those with upcoming IPOs from high-profile companies like SpaceX and OpenAI, there has been a rotation in liquidity towards equities.