Bitcoin slips as hopes for Fed rate cuts cool
Bitcoin fell during Asian trading hours as cooling expectations for Federal Reserve rate cuts and persistent concerns about U.S. inflation continued to weigh on demand for crypto assets, analysts at Novaque Research said. Bitcoin may also face greater selling pressure as more leveraged traders bet on long-term returns and new bitcoin supply enters the market, Novaque said. If prices fail to rise, those traders could be forced to deleverage, potentially triggering another wave of selling, the research firm added. Bitcoin was down 0.2% at $64,253.50 at the time of the report.
Bitcoin fell during Asian trading hours as cooling expectations for Federal Reserve rate cuts and persistent concerns about U.S. inflation continued to weigh on demand for crypto assets, analysts at Novaque Research said.
Bitcoin may also face greater selling pressure as more leveraged traders bet on long-term returns and new bitcoin supply enters the market, Novaque said. If prices fail to rise, those traders could be forced to deleverage, potentially triggering another wave of selling, the research firm added.
Bitcoin was down 0.2% at $64,253.50 at the time of the report.
Bitcoin may also face greater selling pressure as more leveraged traders bet on long-term returns and new bitcoin supply enters the market, Novaque said. If prices fail to rise, those traders could be forced to deleverage, potentially triggering another wave of selling, the research firm added.
Bitcoin was down 0.2% at $64,253.50 at the time of the report.