Bitcoin Drops Below $25,000 This Morning, Hitting New Three-Month Low
Bitcoin fell below $25,000 in the early hours of this morning, hitting $24,791 before rebounding to a new three-month low, according to Bitget sentiment. It is now quoted at $25,142.78, down 3.14 percent in 24 hours.
Earlier data showed that the Federal Reserve suspended interest rate hikes, leaving the benchmark rate unchanged in the 5.00%-5.25% range. Fed rate swaps are no longer betting that the Fed will cut rates in 2023, betting that rates will peak at 5.35% in September.
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