CandleFocus Bitcoin (BTC) Started the Critical FED Week with a Fall! What is the Reason for the Fall?
2024-09-16
Author: Content Editor
The critical FED week has begun for Bitcoin and cryptocurrencies, as investors await the FED's interest rate decision. It is expected that the FED will announce its first interest rate cut, although it remains unclear whether it will be by 25 or 50 basis points. Amid this uncertainty, Bitcoin fell by 1.7% in the last 24 hours. Analysts attribute the drop to investors' risk aversion ahead of the FED decision rather than the news of a second assassination attempt against Donald Trump. The decline in price is also seen as a correction after previous gains not seen in stocks. The uncertainty surrounding the rate cut is said to have stalled Bitcoin's upward momentum.
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