LIVEWhy has the price of Bitcoin fallen again?
The decline was blamed on a dot plot released by the Fed after it left interest rates unchanged on Wednesday. The chart in question predicted that while three interest rate cuts were previously expected, only one rate cut is expected this year, and that would be just 25 basis points. However, scatter plots are published by the Fed as forecasts only and are subject to change.
However, as we have previously stated as Bitcoinsistemi.com, recently there has been pressure from Bitcoin miners and miners have been sending BTC to exchanges at an accelerated rate.
The $65,300 level is the “last line of defense.”
As a result of the decline in the price of BTC, $22 million was liquidated in the cryptocurrency market over the past hour, of which $21 million came from long positions.
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