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Bitcoin Slips to $95K Amid Fed’s Hawkish Stance

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By Ahmed Ashraf
Bitcoin Slips to $95K Amid Fed's Hawkish Stance
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Bitcoin prices saw a significant decline during today’s trading, following substantial losses last week. This drop reflects the prevailing caution and anticipation among investors amid economic pressures triggered by statements from the Federal Reserve.

Bitcoin fell by 13%, reaching $95,445.4 after hitting the $108,000 mark last Wednesday, following indications from Federal Reserve officials about interest rate cuts.

The Federal Reserve showed a tendency toward tightening monetary policy, signaling the likelihood of only two rate cuts in the coming year. This prompted investors to reassess their positions regarding cryptocurrencies.

Alternative cryptocurrencies displayed limited movement on Monday, as investors continued to reconsider the future of digital assets in light of the Federal Reserve’s recent stance. Ethereum, the second-largest cryptocurrency globally, dropped to $3,303.66, while XRP fell by 1.9% to $2.1896.

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Ahmed Ashraf

Research Department at LDN Global Markets

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