U.Today – Prominent supporter 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, which suddenly dropped from a price level of $68,000 overnight.
Saylor’s tweet includes an AI-generated image with an image of physical Bitcoin and bees, stating: “Bitcoin is a swarm of cyber hornets.”
Certain macroeconomic factors contributed to this sudden drop in the price of Bitcoin. The Personal Consumption Expenditures (PCE) price index recorded a slight escalate of 0.25% in April, following a 12-month change of 2.75%, which turned out to be the lowest level in three years for the index.
While this was in line with analyst expectations, Bitcoin still fell 2.14% in three consecutive red candles, from $68,608 to $67,712. Today there was a slight rebound, pushing the largest cryptocurrency slightly higher.
As reported by U.Today, the main Japanese cryptocurrency exchange DMM Bitcoin faced a massive hack in which anonymous hackers took cryptocurrencies worth over $300 million – 4,502 BTC.
According to data provided by Chainalytic, it was the largest hack of a cryptocurrency trading platform since 2022 and the seventh largest in the history of the cryptocurrency industry.
