Why is Bitcoin Price Down Today? Have the Bears Capitualted the Markets?

Bitcoin’s value dropped notably during the previous day’s close, hitting the intraday low of $23,000, incurring a loss of more than 3%. The drop was followed by a significant drop in the US markets as the Dow Jones Industrial Average plunged by 390 points and S&P500 & Nasdaq dropped by 1.6% and 2.0% respectively.