Monday, February 10, 2025

Bitcoin tumbles following U.S. Fed remarks

The price of Bitcoin fell to its lowest level in months following remarks from the U.S. Federal Reserve. The cryptocurrency dropped in value from $47,000 USD earlier this week to less than $42,000 per digital coin today. It follows minutes from a meeting of the Federal Reserve, which suggested it may raise interest rates, the BBC reports. Political events in Kazakhstan have also raised concerns about the network’s capacity. Because of its global and decentralised nature, attributing a rise or fall in the price of Bitcoin to a single cause is difficult. But many commentators have pointed to the release of the Federal Reserve’s December meeting notes as one factor. The minutes suggest that America’s central bank might raise interest rates sooner than some had anticipated, and sell off some of its assets. That could have led to a knock-on effect of traditional investors who hold Bitcoin, as they pursue less risky assets instead.

 

https://www.bbc.com/news/technology-59907864

BIG Media
BIG Media
Our focus is on facts, accurate data, and logical interpretation. Our only agenda is the truth.
spot_img

BIG Wrap

Libya finds two graves with bodies of nearly 50 migrants, refugees

(Al Jazeera Media Network) Libya authorities have uncovered nearly 50 bodies from two mass graves in the country’s southeastern desert, in the latest tragedy...

Sky skimmers – the race to fly satellites at the lowest orbits yet

(BBC News) There is a new race in space, but it is not where you might think. It is happening close to home –...