**Bitcoin Dips Amid Market Jitters**

Bitcoin's price took a 5.5% hit between July 31 and Aug. 1, dropping to $62,498, its lowest in over two weeks. The dip is linked to reduced hopes for US interest rate cuts and the release of 47,000 BTC from the defunct Mt. Gox exchange.

- **Fed's Decision:** The US Federal Open Market Committee kept interest rates steady at 5.25%, hinting at a cautious approach to future cuts.

- **Investor Moves:** Rising US Treasury bets and gold prices suggest a flight to safety amid Middle East tensions.

- **Economic Concerns:** Fears of a US recession grow as jobless claims hit an 11-month high and construction spending falls.

Despite the drop, Bitcoin futures and options markets remain stable, showing no signs of stress. Traders aren't overly bearish, indicating that further price corrections may not be imminent.