Bitcoin, the world’s largest cryptocurrency, experienced a sharp drop of over 7% last week, continuing its decline from a one-month high of $65,000 reached on August 25th.
With the US Federal Reserve’s decision on interest rates imminent, the cryptocurrency market is bracing for potential price shifts. While a rate cut could push Bitcoin’s price up, there are concerns about a recession causing a significant crash.
Investors are anxiously monitoring the Fed’s actions as they weigh the possibilities of substantial gains or big losses in the volatile Bitcoin market.
