In the latest cryptocurrency news, Bitcoin is experiencing significant selling pressure due to a renewed hawkish stance from the Federal Reserve.

The Federal Reserve's stance, typically associated with higher interest rates, often leads to a stronger dollar. This, in turn, can put downward pressure on assets priced in dollars, such as Bitcoin.

Investors in the cryptocurrency market should be aware of these macroeconomic factors, as they can significantly influence the value of digital assets. Despite the current selling pressure, the long-term outlook for Bitcoin and other cryptocurrencies remains uncertain.

This news serves as a reminder of the volatility inherent in the cryptocurrency market, and the need for investors to stay informed about broader economic trends.