Bitcoin Price Dives Amid Macroeconomic Concerns

The recent rebound in Bitcoin's price has been cancelled out as the US stock market experiences a decline. This downturn is accompanied by rising gold prices and growing macroeconomic concerns. The cryptocurrency's value has fallen below $66,000 after erasing most of its previous surge.

Crypto-related stocks have also followed suit, with Strategy (MSTR), Coinbase (COIN), and Circle (CRCL) experiencing losses. The decline is attributed to investors' increasing unease about credit stress concerns, a hot PPI inflation reading, and tensions between the US and Iran.

Investors are turning to safe-havens such as precious metals, with gold prices up 1% and silver surging 4%. Meanwhile, crude oil has jumped 2.3%. The recent uptick in geopolitical tensions is also contributing to market volatility.