Bitcoin Rangebound Below $29K: Traders Uncertain on FED
Major cryptocurrencies faced selling pressure on Thursday following the release of the Fed eral Reserve’s latest meeting minutes. Investor concerns about the economic outlook weighed on digital asset prices. BTC fell around 2.6% to trade at $28,289, based on data from CoinMarketCap. The decline of Bitcoin began after the minutes from the Fed July policy meeting were published. The minutes outlined the central bank’s thinking around future interest rates. Fed’s tighter monetary policy signal caused Bitcoin price to drop The Fed is signaling its commitment to tighter monetary policy to combat inflation. As a result, Bitcoin and other cryptocurrency traders seem cautious about the potential for slowing economic growth. The declining prices across the crypto market on Thursday reflect ongoing uncertainty around how digital assets will perform in the current macroeconomic environment. Data from Coin Metrics shows that the correlation between Bitcoin and stocks...