Bitcoin prices may go even lower after today - here is why

livemint.com:

Bitcoin prices are expected to go even lower after today as the minutes of the Federal Reserve's May policy meeting are scheduled for release on May 26 at 11:30 PM (India time). Its contents could provide some additional insight into the lengths it is willing to go to bring down inflation, which could have a negative impact on the future price of Bitcoin and other growth assets. The focus will be on details of the phased reduction in the size of the central bank's balance sheet scheduled to begin in June, Forbes reported.

As the second part of this stimulus, the central bank bought Treasuries and mortgage-backed securities (MBS) worth $80 billion per month, doubling its balance sheet size to nearly $9 trillion in two years and stoking unprecedented risk taking in financial markets. The dollar will likely increase much more (it is already up 6% year to date), placing even more negative pressure on risk assets like Bitcoin.

The perils of loosely regulated cryptocurrencies and stablecoins, which skyrocketed in value during the COVID-19 pandemic, have been brought into sharp relief, with the cryptocurrency market plummeting this month following the demise of key stablecoin terraUSD. Bitcoin, the most popular cryptocurrency, has lost more than 50% since November.

The cryptocurrency economy has been ripped to shreds in recent weeks, with the sector's value plummeting by hundreds of billions of dollars and several currencies entirely collapsing. The scamming industry, estimated to be worth $7.8 billion last year by Chainalysis, has not given up. Scammers continue to find fertile ground on Telegram and Twitter, posing as humanitarian heroes assisting those who have suffered losses as a result of the catastrophe. The explanation