• BTC’s sharp slump to $66K triggered $250M in overall market liquidations
• Peter Schiff mocked the king coin amidst the drop, but sympathized with U.S. investors.  

Bitcoin [BTC] fronted a wild bearish reaction during Asian trading hours on the 2nd of April. The king coin slumped $3K, from $69K to $66K, after US manufacturing activity unexpectedly improved in March.

At the time of writing, more than 95% interest rate traders were expecting the Fed rate to maintain its current range in May.

That means the odds of Fed rate cuts by summer might drop significantly, affecting risk-on assets like BTC.