{"id":52137,"date":"2023-06-14T22:04:45","date_gmt":"2023-06-15T02:04:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=52137"},"modified":"2023-06-14T22:07:09","modified_gmt":"2023-06-15T02:07:09","slug":"bitcoin-dip-below-25k-first-in-three-months","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-dip-below-25k-first-in-three-months\/","title":{"rendered":"Bitcoin Dip\u00a0Below $25K: First in Three Months"},"content":{"rendered":"\n

As a result of the Federal Reserve's<\/a> decision to halt interest rate hikes, the price of Bitcoin fell by 4%.<\/p>\n\n\n\n

\"\"
Bitcoin Dip\u00a0Below $25K: First in Three Months<\/figcaption><\/figure>\n\n\n\n

Bitcoin's price has fallen below $25,000<\/strong> for the first time since March 17 in response to a hawkish Fed statement during another turbulent week for the cryptocurrency industry. <\/p>\n\n\n\n

According to data from TradingView, the price of Bitcoin dropped 4% from $25,867 to $24,819 over 30 minutes on June 15. Bitcoin has regained ground and is holding just above $25,000 at publication.<\/p>\n\n\n\n

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Bitcoin price from June 12 to June 15. Source: TradingView.<\/em><\/figcaption><\/figure>\n\n\n\n

During the past week, Bitcoin's price remained stable at around\u00a0$26,000<\/strong>\u00a0as the market adjusted to the SEC's legal action against crypto exchange\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> giants Coinbase and Binance and increased macroeconomic ambiguity surrounding interest rate signals from the United States Federal Reserve.<\/p>\n\n\n\n

The abrupt decline in price occurred approximately three hours after the Federal Reserve announced a halt to interest rate hikes following a fifteen-month campaign of rate hikes to combat surging inflation.<\/p>\n\n\n\n

While the market nearly unanimously anticipated a rate pause, the Federal Open Markets Committee statement hinted at future rate increases, which typically dampens investor enthusiasm for risk assets such as cryptocurrencies.<\/p>\n\n\n\n

The second-largest cryptocurrency by market capitalization, Ether ETH tickers down $1,648 also declined, declining more than 5% from $1,727 to $1,631. Altcoins were not immune to the bearish sentiment, with many tokens designated as securities in SEC lawsuits declining by more than 3%.<\/p>\n\n\n\n

Cardano\u00a0ADA\"tickers$0.261\u00a0is currently down 3.4% in the last 24 hours, Polygon MATIC\"tickers$0.6210\u00a0and Solana SOL\"tickers$14\u00a0fell 3.3% and 2.8% separately.<\/p>\n\n\n\n

According to reports, current Bitcoin options data suggests a further decline, especially when regulatory hostility towards the crypto industry on U.S. soil and the likelihood of further Fed rate hikes <\/use><\/svg><\/span><\/a>in the coming months are considered.<\/p>\n","protected":false},"excerpt":{"rendered":"

As a result of the Federal Reserve’s decision to halt interest rate hikes, the price of Bitcoin fell by 4%. Bitcoin’s price has fallen below $25,000 for the first time since March 17 in response to a hawkish Fed statement during another turbulent week for the cryptocurrency industry.  According to data from TradingView, the price of Bitcoin […]<\/p>\n","protected":false},"author":53,"featured_media":52141,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,21],"tags":[5371,5501,5392,5747],"class_list":["post-52137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-news","tag-bitcoin-2","tag-coinbase-2","tag-cryptocurrency-2","tag-sec-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/BTC.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=52137"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/52137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/52141"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=52137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=52137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=52137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}