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Why is Bitcoin price down today?
Key takeaways:Bitcoin price fell 1.4% to $102,460 amid US economic concerns, with daily trading volume up 94%, indicating the return of sellers.Moody’s US credit downgrade to Aa1 and a class-action lawsuit against Strategy add to BTC’s headwinds.Bitcoin’s (BTC) price has dropped by over 1.4% over the last 24 hours to $102,460 as concerns over the health of the US economy sour investor sentiment. Its daily trading volume has jumped by 94% to $66.6 billion, suggesting that the sell-side activity is intensifying. BTC/USD daily chart. Source: Cointelegraph/TradingViewMacroeconomic uncertainty drives Bitcoin price downMoody’s downgrade of the US credit rating from Aaa to Aa1 on May 16, citing rising debt and deficits. This has heightened macroeconomic uncertainty, contributing to a decline in Bitcoin’s price on May 19. This downgrade and fears of inflation spurred by potential tariff policies under President Donald Trump have rattled financial markets, increasing Treasury yields and triggering risk-off sentiment. “The 30Y Note Yield is above 5.00% and the 10Y Note Yield is up another +11 bps,” said capital markets commentator The Kobeissi Letter in a May 19 post on X, adding:“If the Trump Administration does not intervene here, 8% mortgages are coming.”Increasing US Treasury Bills. Source: The Kobeissi LetterHigher yields increase borrowing costs, hurting businesses and consumers, especially amid recession fears and fiscal concerns. Adding to the sell-side pressure is the news that a class action lawsuit has been filed against Strategy, the largest corporate Bitcoin holder.According to a May 19 filing with the US Securities and Exchange Commission (SEC), the company faces a class-action lawsuit that accuses Strategy officials of failure to accurately represent the nature of Bitcoin investments.
Key takeaways:
Bitcoin price fell 1.4% to $102,460 amid US economic concerns, with daily trading volume up 94%, indicating the return of sellers.
Moody’s US credit downgrade to Aa1 and a class-action lawsuit against Strategy add to BTC’s headwinds.
Bitcoin’s (BTC) price has dropped by over 1.4% over the last 24 hours to $102,460 as concerns over the health of the US economy sour investor sentiment. Its daily trading volume has jumped by 94% to $66.6 billion, suggesting that the sell-side activity is intensifying.
Macroeconomic uncertainty drives Bitcoin price down
Moody’s downgrade of the US credit rating from Aaa to Aa1 on May 16, citing rising debt and deficits. This has heightened macroeconomic uncertainty, contributing to a decline in Bitcoin’s price on May 19.
This downgrade and fears of inflation spurred by potential tariff policies under President Donald Trump have rattled financial markets, increasing Treasury yields and triggering risk-off sentiment.
“The 30Y Note Yield is above 5.00% and the 10Y Note Yield is up another +11 bps,” said capital markets commentator The Kobeissi Letter in a May 19 post on X, adding:
“If the Trump Administration does not intervene here, 8% mortgages are coming.”
Higher yields increase borrowing costs, hurting businesses and consumers, especially amid recession fears and fiscal concerns.
Adding to the sell-side pressure is the news that a class action lawsuit has been filed against Strategy, the largest corporate Bitcoin holder.
According to a May 19 filing with the US Securities and Exchange Commission (SEC), the company faces a class-action lawsuit that accuses Strategy officials of failure to accurately represent the nature of Bitcoin investments.
