Bitcoin price saw a sudden slide over the past 24 hours after hitting $70,000, falling more than 5% to under $66,000 level on Tuesday. It follows the transfer of $2 billion in bitcoins by the U.S. government, sparking concerns as the move comes just before the US Federal Reserve interest rate decision.
Donald Trump-Driven Bitcoin Price Rally Fades
Crypto Fear and Greed Index dropped from 74 to 67 as investors brace for potential losses due to volatility ahead of the FOMC meeting. Uncertainty soared in the markets amid heightened geopolitical tensions in the Middle East and expectations of a rate cut in September.
Bitcoin price has pared mostly all weekly gains. BTC hit $70,000 amid Donald Trump’s speech at the Bitcoin Conference in Nashville, Tennessee last week. Notably, traders ruled out the current macroeconomics as the primary factor restricting Bitcoin rally. The 10-year Treasury held its recent decline to below 4.2%, moving near its lowest level since March. Moreover, the U.S.
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