Bitcoin dips below $25K for the first time in 3 months

The price of Bitcoin plummeted 4% in the hours following the U.S. Federal Reserve’s move to pause interest rates. While the market expected a pause, the Fed hinted at more rate hikes in the near future.

Highlights

• Bitcoin price drops 4% in 30 minutes after U.S.
• Federal Reserve announces interest rate pause.
• The price of Bitcoin has fallen below $25,000 for the first time since March 17.
• The drop is due to uncertainty surrounding the Federal Reserve’s decision to raise interest rates.
• Bitcoin’s second largest cryptocurrency by market cap, Ether, also fell more than 5% in the same time frame, to $1,631 in the last 24 hours.
• The market is expected to continue to fall further in the coming weeks.

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