Bitcoin price today: dips below 94
thousand dollars as hopes for a
Federal Reserve rate cut fade
Bitcoin dropped to its lowest level in over six months on Monday, influenced by a decline in expectations regarding a rate cut by the Federal Reserve next month and increasing caution ahead of delayed U.S. economic data.
The largest cryptocurrency in the world traded down 1.6% at $93,876.6000 by 02:22 AM. It fell to $93,043.9000 earlier in the session, reaching its lowest level since late April.
Bitcoin declined by about 7% last week, marking its third consecutive weekly drop.
Bitcoin falls as hopes for a Federal Reserve rate cut fade
This decline comes as traders sharply reduced their bets on policy easing in December. Futures contracts now indicate a nearly 40% chance of a rate cut at the Federal Reserve meeting on December 10-11, down from about 90% earlier this month.$BTC
$BTC #BTC
thousand dollars as hopes for a
Federal Reserve rate cut fade
Bitcoin dropped to its lowest level in over six months on Monday, influenced by a decline in expectations regarding a rate cut by the Federal Reserve next month and increasing caution ahead of delayed U.S. economic data.
The largest cryptocurrency in the world traded down 1.6% at $93,876.6000 by 02:22 AM. It fell to $93,043.9000 earlier in the session, reaching its lowest level since late April.
Bitcoin declined by about 7% last week, marking its third consecutive weekly drop.
Bitcoin falls as hopes for a Federal Reserve rate cut fade
This decline comes as traders sharply reduced their bets on policy easing in December. Futures contracts now indicate a nearly 40% chance of a rate cut at the Federal Reserve meeting on December 10-11, down from about 90% earlier this month.$BTC
$BTC #BTC