Bitcoin fell below $70,000 amid rising inflation and US stock market declines, causing other cryptocurrencies to decline as well.

Bitcoin fell below $70,000 after setting a record high for the fifth time in seven days as investors pulled back from riskier assets amid rising inflation and US stock market declines. The oldest cryptocurrency dropped 6.3% to $68,549, while other tokens like Ether, Avalanche, and Litecoin also declined. The Federal Reserve may not cut interest rates due to these economic indicators, which could affect the appeal of cryptocurrencies.