Bitcoin fell 2.9% to $63,018 on Monday, its lowest price in eleven days. Ether suffered an even steeper decline, dropping 4.1%. This correction comes amid fears of Federal Reserve rate hikes, amplified by oil prices climbing above $100 per barrel due to geopolitical tensions in the Middle East. The growing correlation between Bitcoin and the Nasdaq is magnifying downward moves when fears about artificial intelligence spending weigh on tech stocks. Bitcoin is down approximately 28% from its previous highs above $88,000 and remains confined to a $63,000 to $65,000 range.
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