Bitcoin Price Dropped From $37,000 This Morning amid concerns that The US Federal Reserve (Fed) may raise interest rates by 0.75% at its June meeting. Even Fed Chairman Jerome Powell signaled that The Fed has yet to consider a rate hike of as much as 0.75%.
as of 6:56 a.m. Thai time today Bitcoin fell 7.97% to $36,516.29.
Bitcoin prices fell, as did other risk-weighted assets, including stocks, after the CME Group’s FedWatch tool indicated that investors are now weighing 75 percent that the Fed will raise interest rates by 0.75% at its 14-day meeting. June 15, up from 19% last month.
The Fed’s interest rate hike could result in liquidity flowing out of the financial markets. This includes the cryptocurrency market.
Analysts from many offices Among them, Michael Novogratz, chief executive of Galaxy Digital Holdings, said the Fed began tightening its monetary policy by raising interest rates. This prompted investors in the cryptocurrency market to reassess their risks after in 2021 bitcoin hit a record high. Like other types of risk assets due to the spread of COVID-19 This made the Fed decide to maintain its accommodative monetary policy.