Bitcoin price: tests $60,000 amid Fed jitters, profit-taking.

Bitcoin sank to a two-week low on Wednesday, deepening losses to as far as $60,000 as investors locked-in profits ahead of a Federal Reserve meeting, while heavy capital outflows from a major exchange-traded fund also weighed.

A broader risk-off move in currency markets saw traders pivot into the dollar while collecting profits in Bitcoin after it surged to record highs of over $73,000 earlier in March.

The dollar index hit a two-week high before the conclusion of a Fed meeting later in the day, where the central bank is widely expected to keep rates steady and offer more cues on when it plans to begin cutting interest rates.

Bitcoin traded at $61,287.9 by 00:51 ET (01:48 GMT). It had fallen as far as $60,850.9 earlier in the day.

Adding to the downward pressure on Bitcoin, the token saw a flash crash on crypto exchange BitMEX, where it sank as low as $8,900 following a series of massive sell orders on Tuesday. BitMEX said it was investigating potential wrongdoing.

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