Bitcoin (BTC) price slumped below $29,000, above which it tried to resist.
Cryptocurrency investors are wondering why the last drop. According to analysts, along with Bitcoin, US stock exchanges also closed the day in the negative zone, and the reason for the decline is thought to be the FED minutes announced today.
The announced FED minutes were described as hawkish by investors. According to the minutes, FED members still think that inflation is too high and that additional rate hikes may be needed.
The Nasdaq 100 slumped below 15,000, the lowest level since June (down almost 7% from highs). A similar decrease of approximately 1% was also observed in the BTC price.
However, while the minutes made no definitive guidance on the next rate decision in September, it said future steps should depend on the “total” of incoming information and its impact on the outlook.
*Not investment advice.