{"id":640420,"date":"2024-09-07T20:30:00","date_gmt":"2024-09-07T20:30:00","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=640420"},"modified":"2024-09-07T10:24:10","modified_gmt":"2024-09-07T10:24:10","slug":"heres-why-bitcoin-price-crashed-below-54000","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","title":{"rendered":"Here\u2019s Why Bitcoin Price Crashed Below $54,000"},"content":{"rendered":"

The <\/span>Bitcoin price<\/span><\/a> dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was sparked by developments on the <\/span>macroeconomic side<\/span><\/a>, which painted a bearish outlook for <\/span>Bitcoin<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: Cardano Bull Sees ADA Jumping 1,000% In An \u2018Insane\u2019 Rally<\/a><\/div>\n

Bitcoin Slides Following Weak Job Report<\/b><\/h2>\n

Bitcoin\u2019s price<\/span><\/a> retreated following a weak August job report. <\/span>Data<\/span><\/a> from the US Bureau of Labor showed that the <\/span>unemployment rate<\/span><\/a> fell to 4.2% while the labor market added 142,000 nonfarm payroll jobs. While the unemployment rate was in line with expectations, the job additions were lower than the expected 164,000, initially estimated by market experts.\u00a0<\/span><\/p>\n

This further casts doubt on Bitcoin\u2019s trajectory, considering how fragile the <\/span>US economy<\/span><\/a> looks at the moment. This poses a threat to risk assets like the flagship crypto. The bearish outlook for Bitcoin was further heightened by the revisions to the July and June job reports, which showed that the US added fewer jobs than was initially reported in those months.\u00a0<\/span><\/p>\n

Earlier, Bitcoin had already had an unpleasant start to September, which is historically very bearish for the leading crypto. NewsBTC <\/span>reported<\/span><\/a> that Bitcoin had suffered a price crash earlier in the week due to the markets still feeling the effects of the <\/span>Yen carry trade<\/span><\/a> and following significant volatility in the US stock market, with over $1.05 million being wiped out on September 3.\u00a0<\/span><\/p>\n

Macroeconomic factors remain primarily responsible for Bitcoin\u2019s recent bearish price action and the broader crypto market, especially with a rate cut from the US Federal Reserve still in the balance. It is worth mentioning that the July job reports (the lowest job additions over the last two years) and the Yen carry trade were responsible for the <\/span>August 5 market crash<\/span><\/a>, which caused Bitcoin to drop below $50,000.\u00a0<\/span><\/p>\n

Interestingly, Arthur Hayes, the co-founder of the BitMEX crypto exchange, <\/span>stated<\/span><\/a> that he expects Bitcoin to drop below $50,000 this weekend, revealing that he had opened a short position.\u00a0<\/span><\/p>\n

Bitcoin is currently trading at $54,227. Chart: TradingView<\/a><\/figcaption><\/figure>\n

A Rate Cut Looking More Unlikely\u00a0<\/b><\/h2>\n

For a while now, the crypto market has been anticipating that the Fed will cut interest rates at its next <\/span>FOMC meeting<\/span><\/a>, which will be held between September 17 and 18. Bernstein analysts <\/span>predicted<\/span><\/a> that this move would provide some form of bullish momentum for Bitcoin\u2019s price. However, a rate cut, especially by 50 basis points (bps), is now unlikely following the release of the job data.<\/span><\/p>\n

Crypto commentator <\/span>The Kobeissi Letter<\/span><\/a> highlighted in an X (formerly Twitter) <\/span>post<\/span><\/a> that the odds for a 50bps have dropped to 23% on the prediction markets. The Fed might no longer be in a hurry to cut rates since the situation in the labor market isn\u2019t as bad as it was initially feared following the release of the July jobs report.\u00a0<\/span><\/p>\n

Related Reading: Aptos (APT) Dips 15% As New Innovations Fail To Spark Momentum<\/a><\/div>\n

Whatever happens, crypto analysts like CryptoCon are confident that the worst is almost over for Bitcoin. CryptoCon <\/span>recently noted<\/span><\/a> that Bitcoin was mirroring its price action from the 2016 market cycle and suggested that the flagship crypto was gearing up for its next leg up, which would take it to a new <\/span>all-time high (ATH)<\/span><\/a>.\u00a0<\/span><\/p>\n

At the time of writing, Bitcoin is trading at around $54,150, down almost 4% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

Featured image from EastMojo, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was sparked by developments on the macroeconomic side, which painted a bearish outlook for Bitcoin.\u00a0 Related Reading: Cardano Bull Sees ADA Jumping 1,000% In An \u2018Insane\u2019 Rally Bitcoin Slides Following Weak Job Report Bitcoin\u2019s price retreated following a weak August job report. Data from the US Bureau of Labor showed that the unemployment rate fell to 4.2% while the labor market added 142,000 nonfarm payroll jobs. While the unemployment rate was in line with expectations, the job additions were lower than the expected 164,000, initially estimated by market experts.\u00a0 This further casts doubt on Bitcoin\u2019s trajectory, considering how fragile the US economy looks at the moment. This poses a threat to risk assets like the flagship crypto. The bearish outlook for Bitcoin was further heightened by the revisions to the July and June job reports, which showed that the US added fewer jobs than was initially reported in those months.\u00a0 Earlier, Bitcoin had already had an unpleasant start to September, which is historically very bearish for the leading crypto. NewsBTC reported that Bitcoin had suffered a price crash earlier in the week due to the markets still feeling the effects of the Yen carry trade and following significant volatility in the US stock market, with over $1.05 million being wiped out on September 3.\u00a0 Macroeconomic factors remain primarily responsible for Bitcoin\u2019s recent bearish price action and the broader crypto market, especially with a rate cut from the US Federal Reserve still in the balance. It is worth mentioning that the July job reports (the lowest job additions over the last two years) and the Yen carry trade were responsible for the August 5 market crash, which caused Bitcoin to drop below $50,000.\u00a0 Interestingly, Arthur Hayes, the co-founder of the BitMEX crypto exchange, stated that he expects Bitcoin to drop below $50,000 this weekend, revealing that he had opened a short position.\u00a0 A Rate Cut Looking More Unlikely\u00a0 For a while now, the crypto market has been anticipating that the Fed will cut interest rates at its next FOMC meeting, which will be held between September 17 and 18. Bernstein analysts predicted that this move would provide some form of bullish momentum for Bitcoin\u2019s price. However, a rate cut, especially by 50 basis points (bps), is now unlikely following the release of the job data. Crypto commentator The Kobeissi Letter highlighted in an X (formerly Twitter) post that the odds for a 50bps have dropped to 23% on the prediction markets. The Fed might no longer be in a hurry to cut rates since the situation in the labor market isn\u2019t as bad as it was initially feared following the release of the July jobs report.\u00a0 Related Reading: Aptos (APT) Dips 15% As New Innovations Fail To Spark Momentum Whatever happens, crypto analysts like CryptoCon are confident that the worst is almost over for Bitcoin. CryptoCon recently noted that Bitcoin was mirroring its price action from the 2016 market cycle and suggested that the flagship crypto was gearing up for its next leg up, which would take it to a new all-time high (ATH).\u00a0 At the time of writing, Bitcoin is trading at around $54,150, down almost 4% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image from EastMojo, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":640435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1020,1119,1144,6664,3504],"class_list":["post-640420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-blockchain","tag-btc","tag-btcusd","tag-crypto","tag-price"],"acf":[],"yoast_head":"\nHere\u2019s Why The Bitcoin Price Crashed Below $54,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Here\u2019s Why The Bitcoin Price Crashed Below $54,000\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-07T20:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-07T10:24:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877\" \/>\n\t<meta property=\"og:image:width\" content=\"1277\" \/>\n\t<meta property=\"og:image:height\" content=\"877\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Matherson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/MathersonScott\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Matherson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\"},\"author\":{\"name\":\"Scott Matherson\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\"},\"headline\":\"Here\u2019s Why Bitcoin Price Crashed Below $54,000\",\"datePublished\":\"2024-09-07T20:30:00+00:00\",\"dateModified\":\"2024-09-07T10:24:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\"},\"wordCount\":573,\"publisher\":{\"@id\":\"https:\/\/www.ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877\",\"keywords\":[\"bitcoin\",\"blockchain\",\"btc\",\"btcusd\",\"crypto\",\"price\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\",\"url\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\",\"name\":\"Here\u2019s Why The Bitcoin Price Crashed Below $54,000\",\"isPartOf\":{\"@id\":\"https:\/\/www.ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877\",\"datePublished\":\"2024-09-07T20:30:00+00:00\",\"dateModified\":\"2024-09-07T10:24:10+00:00\",\"description\":\"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage\",\"url\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877\",\"contentUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877\",\"width\":1277,\"height\":877,\"caption\":\"Bitcoin\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ktsl888.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Here\u2019s Why Bitcoin Price Crashed Below $54,000\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ktsl888.com\/#website\",\"url\":\"https:\/\/www.ktsl888.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/www.ktsl888.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ktsl888.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ktsl888.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/www.ktsl888.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d\",\"name\":\"Scott Matherson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"caption\":\"Scott Matherson\"},\"description\":\"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott\"],\"url\":\"https:\/\/www.ktsl888.com\/author\/mathersonscott1\/\"}]}<\/script>\n","yoast_head_json":{"title":"Here\u2019s Why The Bitcoin Price Crashed Below $54,000","description":"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","og_locale":"en_US","og_type":"article","og_title":"Here\u2019s Why The Bitcoin Price Crashed Below $54,000","og_description":"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was","og_url":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-09-07T20:30:00+00:00","article_modified_time":"2024-09-07T10:24:10+00:00","og_image":[{"width":1277,"height":877,"url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","type":"image\/jpeg"}],"author":"Scott Matherson","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/MathersonScott","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Scott Matherson","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#article","isPartOf":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/"},"author":{"name":"Scott Matherson","@id":"https:\/\/www.ktsl888.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d"},"headline":"Here\u2019s Why Bitcoin Price Crashed Below $54,000","datePublished":"2024-09-07T20:30:00+00:00","dateModified":"2024-09-07T10:24:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/"},"wordCount":573,"publisher":{"@id":"https:\/\/www.ktsl888.com\/#organization"},"image":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","keywords":["bitcoin","blockchain","btc","btcusd","crypto","price"],"articleSection":["Bitcoin","Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/www.ktsl888.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","url":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","name":"Here\u2019s Why The Bitcoin Price Crashed Below $54,000","isPartOf":{"@id":"https:\/\/www.ktsl888.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage"},"image":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","datePublished":"2024-09-07T20:30:00+00:00","dateModified":"2024-09-07T10:24:10+00:00","description":"The Bitcoin price dropped below $54,000 on September 6 as the flagship crypto experienced a massive wave of sell-offs from traders. This price decline was","breadcrumb":{"@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#primaryimage","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","contentUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","width":1277,"height":877,"caption":"Bitcoin"},{"@type":"BreadcrumbList","@id":"https:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ktsl888.com\/"},{"@type":"ListItem","position":2,"name":"Here\u2019s Why Bitcoin Price Crashed Below $54,000"}]},{"@type":"WebSite","@id":"https:\/\/www.ktsl888.com\/#website","url":"https:\/\/www.ktsl888.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/www.ktsl888.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ktsl888.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ktsl888.com\/#organization","name":"NewsBTC","url":"https:\/\/www.ktsl888.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ktsl888.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/www.ktsl888.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/www.ktsl888.com\/#\/schema\/person\/b728e21249a8147d980445b0ee98f18d","name":"Scott Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Here\u2019s Why Bitcoin Price Crashed Below $54,000","url":"http:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/heres-why-bitcoin-price-crashed-below-54000\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","blockchain","btc","btcusd","crypto","price"],"dateCreated":"2024-09-07T20:30:00Z","datePublished":"2024-09-07T20:30:00Z","dateModified":"2024-09-07T20:30:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Here\\u2019s Why Bitcoin Price Crashed Below $54,000\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/heres-why-bitcoin-price-crashed-below-54000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/heres-why-bitcoin-price-crashed-below-54000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/a_1787fb.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/a_1787fb.jpg?fit=1277%2C877\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"blockchain\",\"btc\",\"btcusd\",\"crypto\",\"price\"],\"dateCreated\":\"2024-09-07T20:30:00Z\",\"datePublished\":\"2024-09-07T20:30:00Z\",\"dateModified\":\"2024-09-07T20:30:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2024\/09\/a_1787fb.jpg?fit=1277%2C877","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/640420"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=640420"}],"version-history":[{"count":3,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/640420\/revisions"}],"predecessor-version":[{"id":640453,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/640420\/revisions\/640453"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/640435"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=640420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=640420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=640420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}