Michael Saylor, co-founder of MicroStrategy and one of Bitcoin's most prominent advocates, posted a tweet expressing his confidence in the largest cryptocurrency by market capitalization, after the price of Bitcoin suddenly fell below $68,000.
Saylor's tweet included an artificial intelligence-generated image showing Bitcoin surrounded by bees, which he captioned, "Bitcoin is a swarm of cyber hornets."
Impact of economic factors:
The personal consumption expenditures (PCE) price index rose slightly by 0.25% in April, after a year-on-year change of 2.75%, a three-year low.
Although these numbers were expected by analysts, Bitcoin saw a 2.14% decline in three consecutive red candles, falling from $68,608 to $67,712.
However, the coin saw a slight rebound today, pushing its price slightly higher.
