Bitcoin's Volatile Retreat: From Record High to $67K

Bitcoin retreated from its record high, dropping 5.6% in Asian trading amid concerns about speculative froth in global markets. The debate over whether the cryptocurrency bull run is evidence of a market bubble intensified, with Bank of America Corp.'s chief investment strategist likening the surge to a bubble. The retreat was attributed to a rise in US yields and the dollar following hot producer-price inflation data, as well as increased circumspection in the derivatives market. Despite this, supporters point to fundamental supports such as net inflows into dedicated US exchange-traded funds and an upcoming reduction in Bitcoin's supply growth.