Bitcoin falls below $58,000 due to US dumping trend

Investment enthusiasm for cryptocurrencies in the United States has declined, causing Bitcoin to collapse from $58,000 (approximately 8.46 million yen).
As of 9:30 a.m. on the 2nd, CoinMarketQ, a global coin market relay site,
Bitcoin is trading at $57,511 (approximately JPY 8.39 million) on the day, down 2.45% from 24 hours ago. This is due to continued selling in the United States.
The pattern of buying in Asia and selling in the United States has been repeated, resulting in a slump. "The recent price trend of Bitcoin has been one of buying in Asia and dumping in the United States.
"The cryptocurrency expert Miles Deutsch said in an interview. According to him, Bitcoin's cumulative return during Asian trading hours over the past two weeks has been more than 5%.
Bitcoin recorded negative returns during U.S. trading hours. Positive catalysts such as upcoming Fed interest rate cuts will likely have little impact on Bitcoin prices,
Prices fell by more than 20% from their previous highs, entering a bear market.