Overview

• Bitcoin's price fell below $63,000, with potential to drop further as economic indicators weaken.
• Major cryptocurrencies like Ethereum, Solana, and XRP saw substantial declines, wiping $300 billion from the market.
• The FBI issued warnings about scammers impersonating crypto exchange employees to steal funds.
• Increased Bitcoin mining difficulty reached an all-time high, affecting miners' profitability and market dynamics.
• Analysts suggest Bitcoin might benefit in the long term if the U.S. dollar weakens and interest rates are cut.