BTC price is gradually moving away from the $70,000 level, and sales may accelerate once Asian markets open in a few hours. There are many reasons for the decline, and good news doesn’t seem to matter much to investors at the moment. So, what happened in the last few minutes that caused Bitcoin to turn downward again?
Why Did Bitcoin Drop?
Microsoft earnings report was just released, and we mentioned that bad data in this week’s important developments could negatively affect the markets. Although earnings per share and net income exceeded estimates, Microsoft fell short in some revenue categories. This led to a rapid drop in Nasdaq100 Futures from 18,840 to 18,600 points. Simultaneously, BTC also dipped to $65,302.
“Earnings Per Share $2.95, (Estimate $2.90)
Revenue $64.7 Billion, (Estimate $64.52 Billion)
Cloud Revenue $36.8 Billion, (Estimate $36.84 Billion)
Intelligent Cloud Revenue $28.52 Billion, (Estimate $28.72 Billion)”
Tomorrow, the Microsoft earnings report could lead to a red start when the US market opens. And of course, due to positive correlation, the Fed meeting, and the recent $2 billion BTC transfer by the US, losses in crypto could also occur.
