Reserve

Jerome Powell

Chair

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-dips-below-66000-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Dips Below $66,000 Again</a><br></p>
<p style="text-align: justify">The price of <a href="https://en.bitcoinhaber.net/bitcoins-market-tumble-whats-next" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) has dipped below $66,000 again, settling at $66,130 after a turbulent Sunday. Market participants remain wary due to the latest Federal Reserve meeting, which left investors disheartened. The persistent upward revision of <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rate</a> predictions by Fed members has kept investors cautious and hesitant to make significant purchases.</p>
<h2 id="why-did-bitcoin-drop">Why Did Bitcoin Drop?</h2>
<p style="text-align: justify">Bitcoin’s price plummeted to $65,857 before rebounding to the $66,000 mark. The Federal Reserve’s stance on maintaining high-interest rates despite lower inflation figures has contributed to this decline. Fed Chair Jerome Powell noted that although inflation <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> had been considered, members were allowed to revise their predictions, but they chose not to, signaling more days of stagnant inflation ahead.</p>
<h2 id="what-are-the-potential-implications">What Are the Potential Implications?</h2>
<p style="text-align: justify">Should Bitcoin fail to hold the $66,250 level, it could fall to $64,650 or even $63,370. This could potentially lead to a further downward trajectory towards $60,200 and possibly lower levels. The Fed’s monetary policy and investor sentiment will play crucial roles in determining the cryptocurrency’s near-term direction.</p>
<h2 id="market-trends-and-insights">Market Trends and Insights</h2>
<p style="text-align: justify">– Total crypto market volume has fallen to $44 billion, a 40% decrease from the previous day.<br> – BTC dominance (BTCD) stands at 54%, with the total cryptocurrency market cap at $2.41 trillion.<br> – BNB Coin experienced the steepest decline, dropping 11%.<br> – Significant losses were also seen in W, FLOKI, ORDI, and AR Coin, which fell by approximately 30%.<br> – AGIX, STRK, and WLD witnessed 20% decreases, whereas UNI, TON, ROSE, and NOT Coins saw double-digit gains.<br> – Investors are now looking forward to a potential market rebound driven by increased interest from ETF channel investors starting on Monday.</p>
<p style="text-align: justify">Overall, the Bitcoin market is facing a challenging period, with persistent uncertainty stemming from macroeconomic factors and investor caution. The upcoming days will be crucial for determining whether Bitcoin can stabilize or continue its decline.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-dips-below-66000-again" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Dips Below $66,000 Again</a></h5>

Bitcoin Price Dips Below $66,000 Again

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