Bitcoin's recent price decline can be attributed to a combination of factors. Discussions among Rare Pepe enthusiasts suggest a significant shift in focus towards NFTs and "fake rares," diverting attention from traditional bitcoin investments. Additionally, Bitcoin miners have reportedly pulled back on activities related to fake rares, indicating a cooling interest in certain blockchain assets. Historical events, such as Mike Hearn's departure from the Bitcoin community, highlight recurring internal conflicts that may influence market sentiment. Furthermore, technical issues with wallets, as mentioned in forums, could also be causing some holders to liquidate their assets hastily. These elements collectively contribute to the current volatility in Bitcoin's value.
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