Bitcoin slid on Monday on track for the third loss in a row away from three-month highs amid active profit-taking, with the world’s most valuable cryptocurrency potentially testing the $90,000 barrier.
Now eyes are focused on the Federal Reserve’s policy meeting this week, expected to provide crucial clues on the path ahead for US interest rates this year.
The Price
Bitcoin fell 0.8% at Bitstamp today to $93,550, with a session-high at $94,804.
On Sunday, bitcoin shed 1.7% on profit-taking away from a three-month high at $97,938.
Bitcoin rose 0.6% last week, the fourth weekly profit in a row after strong purchases by global corporations and influx of investments into bitcoin exchange funds.
Crypto Market Value
The market value of cryptocurrencies fell nearly $50 billion today to a total of $3026 trillion.
The Fed
Tomorrow, the Federal Reserve will convene and discuss monetary policies, expected to hold interest rates unchanged.
The Fed’s monetary statement and Chair Powell’s subsequent press conference will likely provide clues on the path ahead for policies.
US President Donald Trump continued to pressure Powell to cut interest rates, however he said won’t fire him before the end of term in May 2026.
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