Bitcoin falls below $20k as 2023 rally reverses

Events since have given ample reasons for sellers to emerge. Among them was a stronger-than-expected inflation report that called into question the U.S. Federal Reserve’s early 2023 assertion that a disinflation trend had begun. The central bank itself has acknowledged as much, with Chair Jerome Powell earlier this week telling Congress the Fed has far more work to do to bring inflation back to its 2% target.