Financial markets have been dogged by risk-off sentiment in the run-up to the Fed's interest-rate decision and press conference later today.sank below $57,000 during the European morning on Wednesday to the lowest level since the end of February as the world's largest cryptocurrency recorded its worst month since November 2022.
BTC has fallen more than 8% in the past 24 hours having dropped below the $60,000 support level late on Tuesday, CoinDesk data show. The wider crypto market, as measured by the CoinDesk 20 Index ( Cryptocurrencies have been dogged by risk-off sentiment in the broader financial markets amid a stagflationary feel in the U.S. following indications of slower growth and sticky inflation that have tapered hopes of an interest-rate cut by the Federal Reserve. The Federal Open Market Committee is due to give its latest rate decision later today.
Bitcoin fell in April, returning its first monthly loss since August. The 16% drop was the worst since November 2022, when crypto exchange FTX imploded.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.