BITCOIN’S SHARP FALL

 “On Friday, ten-year US Treasury yields reached a 13-month peak of 1.64 percent, bringing Bitcoin to a new high.Since some investors consider bitcoin as a hedge against inflation, analysts say the possibility of a rapid economic recovery has aided the growth of Bitcoin.”
The world's most successful cryptocurrency briefly fell below $55,000 in early London trades, and was down 5.2 percent at $55,973 at 1118 GMT. On Monday morning, the 10-year US Treasury yield dropped to 1.61 percent.
According to Justin d'Anethan, sales manager at digital asset company Diginex in Hong Kong, Bitcoin's new high on Saturday was delivered into thinner markets due to the weekend, with technical factors magnifying the leap higher.
“The crypto market is heavily reliant on derivatives,” he said and added“A tiny step up sparked a flurry of liquidations on Saturday and Sunday, turning it into a not-so-small move.”
Addition to him, “The only thing I can predict with confidence is volatility,” said David Yermack, a finance professor at NYU Stern School of Business. “This has been a risky investment for people from the beginning.”
It seems, Bitcoin's drastic up-and-down fluctuations are normalised and are expected to continue.