Bitcoin Drops, Dollar Bounces Ahead of Federal Reserve Rate Announcement - CoinDesk - CoinDesk

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

Bitcoin would likely extend losses further if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs later today.

The number one cryptocurrency by market value is trading near $29,500 [updated] at press time, representing a near 10% drop on the day, according to CoinDesk 20 data.

However, stocks and bitcoin would drop and the dollar likely draw bids, if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs.

“Bitcoin has been trading in a tight consolidation for the past six days, with several failures to close above $32,500,” Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk

By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy