Bitcoin's price has dropped over 7% from yesterday's peak of $52,500, and the BTC/USD pair is now trading at $46,613. After falling dramatically from its new all-time high of $58,000 last week, Bitcoin found strong support between $43,000 and $44,000 at the start of the week. Today, US Federal Reserve Chairman Jerome Powell gave a depressing speech, causing the S&P 500 and NASDAQ to lose about 3% of their value.