Bitcoin Price Falls 4% on Crypto Bill Setback: Fed Rate Hike Looms
Bitcoin slid after lawmakers failed to advance a crypto bill, while traders priced in an 85% chance of a Federal Reserve rate hike, Reuters reported.
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The Fed Decides at 2 pm ET Wednesday. What a Hike Does to Bitcoin, XRP and Ethereum the Day After Congress Failed.
A Fed rate hike at 2 PM ET Wednesday will hit a crypto market already rattled by the Senate killing landmark digital asset legislation, but traders watching Bitcoin, XRP, and Ethereum may have their eyes on the wrong clock.
Bitcoin lost 4% in U.S. trading before settling at around $75,900 in the London morning of Wednesday. The drop comes at a delicate time for the industry: the failure to approve a key regulation on cryptocurrencies in the United States has added to the wait for the Federal Reserve's decision on rates, putting [...]
Economy - Tension in the Middle East, the Fed's interest rate decision and the rejection of the crypto bill in the United States have pushed Bitcoin to its lowest level in four weeks. As the exodus from ETFs accelerated, markets focused on the messages the Fed would deliver.
Bitcoin Price Stabilizes Near $75,900 After 4% US-Session Drop
Bitcoin price fell 4% in US trading and stabilized at around $75,900 as of 8 a.m. in London. The decline came after the US failed to advance a key crypto regulatory bill , weakening industry sentiment ahead of a potential Federal Reserve interest-rate hike. The combination puts regulatory...
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