Bitcoin's price has decreased by 1.68% in the past 24 hours and is currently trading at $27,268 with a market cap of $529 billion. Despite a 6.5% drop this month, BTC has still gained 68% year-to-date.
While Bitcoin investors initially remained confident during the banking crisis in March, this confidence has been short-lived.
The increased activity of meme coins and NFTs has led to a surge in BTC transaction fees and network congestion, and if selling pressure persists, BTC may drop further to $23,000. This article provides an analysis of Bitcoin's price.
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