$BTC $BTC #BTC_MARKET_UPDATE

Bitcoin retreated further on Friday, marking a third straight day of declines as macroeconomic pressures caused by the Federal Reserve’s hawkish stance and recent profit-taking amid record highs fueled a prolonged pullback.

Bitcoin fell 3.7% to $97,002.0 as of 12:46 p.m. ET (0746 GMT).

Bitcoin fell below the $100,000 mark on Thursday after Fed officials hinted at a slower pace of interest rate cuts in 2025, with the broader cryptocurrency market also falling sharply.

Bitcoin sees further profit-taking after Fed meeting

The world’s largest cryptocurrency hit an all-time high of $108,244.9 on Tuesday, after which it fell amid profit-taking and an uncertain macroeconomic outlook.

The sell-off intensified after the Fed predicted there would only be two interest rate cuts in 2025, compared to previous expectations of four.