Bitcoin (BTC), the leading cryptocurrency by market value, fell nearly 15% to under $60,000 last month, snapping a seven-month winning trend. The sell-off came as an overheated bull market ran into broad-based risk aversion characterized by renewed tensions in the Middle East, dwindling probability of rapid Fed rate cuts this year and strength in the dollar index.
![Crypto Monthly Trading Volume Drops for First Time in Seven Months to .58T Crypto Monthly Trading Volume Drops for First Time in Seven Months to .58T](https://www.coindesk.com/resizer/JPgTr0mKQ8KZIOcqvukV8HSA5ko=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/BKOGBXYXNZEODPSDCOWMNI2RSE.png)