Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Why Is Bitcoin Price Falling? There is Sudden Pullback

Why Is Bitcoin Price Falling? There is Sudden Pullback

BitcoinsistemiBitcoinsistemi2024/12/19 06:11
By:Mete Demiralp

Bitcoin price has been experiencing a sudden decline in the last few minutes. Here is the reason for the decline in BTC price.

At the time of writing, the Bitcoin price is experiencing a serious and sudden decline, and the cryptocurrency community is wondering what caused the decline.

The reason for the decline is thought to be the hawkish statements of the FOMC following the FED's interest rate decision today, as well as FED Chairman Jerome Powell's ongoing speech about slowing down the pace of interest rate cuts.

Related News JUST IN: FED Chairman Jerome Powell Speaks After Interest Rate Decision - LIVE

In September, the FED's dot plot graph expected four interest rate cuts in 2025, but with the data updated today, this number has decreased to two. In addition, the market is pricing in interest rates to remain unchanged in January. In addition, FED Chairman Jerome Powell's answer to the question about the Strategic Bitcoin Reserve in the US may have contributed to the decline. Powell stated that the FED is not allowed to hold Bitcoin and is not willing to make a change in the laws on this issue.

Following the interest rate decision, the BTC price fell by approximately 3% and is trading at $101,800 at the time of writing. The decline in the last 24 hours exceeded 4%.

Why Is Bitcoin Price Falling? There is Sudden Pullback image 0 Why Is Bitcoin Price Falling? There is Sudden Pullback image 1

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like