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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-significant-price-drop-3" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Significant Price Drop</a><br></p>
<p style="text-align: justify">The US markets closure has led to a notable decline in Bitcoin prices, with rapid sell-offs continuing to push the cryptocurrency to deeper lows. On September 6, most cryptocurrencies turned red, with Bitcoin (BTC) priced at $52,700 at the time of writing, marking a 24-hour loss exceeding 6%. Concurrently, US <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">stock markets</a> experienced one of their worst weeks in recent years.</p>
<h2 id="impacts-of-the-fed-rate-expectations">Impacts of the Fed Rate Expectations</h2>
<p style="text-align: justify">The sharp decline in Bitcoin’s price is noteworthy, especially given the positive US <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>. The expectation for a Federal Reserve rate cut dropped drastically from 50 basis points to 25 basis points after market opening. Investors are recalibrating their projections downward despite employment data suggesting a higher likelihood of rate increases.</p>
<h2 id="potential-risks-from-bank-of-japan">Potential Risks from Bank of Japan</h2>
<p style="text-align: justify">The Federal Reserve has maintained peak rates for over a year, with the first rate cut in four years expected in 11 days. Historically, risk markets witness rapid losses during Fed rate cuts, although these are supportive factors for medium-term increases. However, the Bank of Japan’s potential further rate increases pose a significant risk to this scenario. If continued, this could lead to one of the worst days in risk markets in recent years.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<ul>
 <li style="text-align: justify">BTC dropped to $52,650 at the time of writing.</li>
 <li style="text-align: justify">NASDAQ100 experienced its biggest weekly loss since November 2022.</li>
 <li style="text-align: justify">Ripple’s Founder Chris Larsen donated to Kamala Harris.</li>
 <li style="text-align: justify">Coinbase added ZK Coin to its listing roadmap.</li>
 <li style="text-align: justify">Fed/Goolsbee: There is a broad consensus for multiple Fed rate cuts.</li>
 <li style="text-align: justify">SEC announced the cancellation of Salt Blockchain’s certification.</li>
 <li style="text-align: justify">Markets are giving more probability to a 25bp cut. After US data, the 50bp cut probability rose to 59% and now dropped to 43%. (Change occurred 10 minutes after US markets opened)</li>
 <li style="text-align: justify"><a href="https://en.bitcoinhaber.net/binance-lists-eurite-with-zero-fees" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> listed NEIROETH in futures trading.</li>
 <li style="text-align: justify">Fed/Williams: Ready to start the rate cut process.</li>
 <li style="text-align: justify">Non-Farm Payrolls Announced: 142K Expectation: 165K Previous: 114K</li>
 <li style="text-align: justify">Telegram CEO Pavel Durov mentioned in a new message that the platform is under investigation in Paris due to misuse and promised to enhance security.</li>
</ul>
<p style="text-align: justify">Analysts suggest that due to a lack of demand at resistance levels and repeated tests of supports, Bitcoin’s price could weaken further, potentially leading to new lows for altcoins in 2024.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-significant-price-drop-3" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Significant Price Drop</a></h5>

Bitcoin Faces Significant Price Drop

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