FOMC

Bitcoin

Drops

Coin

<ul class="news-points"> 
 <li>Bitcoin has dipped by more than 2.5% while the market awaits the Fed’s significant monetary policy decisions.</li> 
 <li>Other leading cryptocurrencies like Ether, Solana, and XRP have also shown notable declines.</li> 
 <li>The Fed is expected to keep its 23-year high interest rate of 5.25%—5.50% unchanged during the upcoming FOMC meeting.</li> 
</ul> 
The leading cryptocurrency dropped to a <a href="https://www.bloomberg.com/news/articles/2024-06-11/bitcoin-btc-drops-to-one-week-low-as-traders-await-cpi-fed-decision?utm_source=telegram&amp;utm_content=crypto&amp;utm_medium=social" target="_blank" rel="nofollow">one-week low</a> ahead of the U.S. inflation data release and the Federal Reserve’s interest rate decision. With rates already at a 23-year high of 5.25%-5.50%, experts anticipate the Fed will maintain its tight monetary policy following this week’s Federal Open Market Committee (FOMC) meeting. 
Bitcoin fell more than 2.5% to its lowest price in a week before partially <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">recovering</a> to $68,403, down 1.86% in 24 hours. Despite a slight weekly dip of 1.40%, Bitcoin remains up over 12% in the past month. The token’s 24-hour trading volume surged 81% to $25 billion, indicating increased market activity. 
Other leading <a href="https://coinmarketcap.com/" target="_blank" rel="nofollow">cryptocurrencies</a>, such as Ether, XRP, and Solana, have also experienced notable declines amidst anticipations of the Fed’s tightene…
The post <a href="https://coinedition.com/bitcoin-price-drops-ahead-of-fed-rate-decision-dragging-crypto-market-lower/">Bitcoin Price Drops Ahead of Fed Rate Decision, Dragging Crypto Market Lower</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitcoin Price Drops Ahead of Fed Rate Decision, Dragging Crypto Market Lower

Coin Edition

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