Bitcoin price started the week with a surge above $70,000. Later, things turned around, and the price quickly fell to $67,000. There were speculations about potential drops following the FED’s interest rate decision. The feared drop happened, and Bitcoin started to decline again. So, what caused this drop?
Bitcoin Price Falling
Bitcoin traded at $66,000 for a long time today before it started to drop in the past few minutes. The drop first pulled the price down to $65,700. Then, the decline deepened further. The FED kept the interest rates unchanged and did not provide information on when a rate cut might occur. After this announcement, there was no significant price movement in BTC.
Despite this, things quickly changed due to geopolitical events. After Iran’s attack announcement, a noticeable drop in Bitcoin began, and the entire market turned red within minutes.
What is Bitcoin’s Current Price?
After the price drop, Bitcoin’s value fell to $64,600. While the price remained at this level, the price movement reflected a 2.25% drop in the last 24 hours. In the week when BTC reached $70,000, the 7-day losses reached 2%, putting investors in a difficult position.
Bitcoin’s market cap also saw a noticeable decline. BTC’s market cap fell to $1.274 trillion. On the other hand, the trading volume dropped by 9.30% to $29.3 billion.
According to Coinmarketcap, the biggest price drop during BTC’s decline was seen in AIOZ coin with a 6.81% drop, bringing its value to $0.578. It was followed by JasmyCoin with a 6.17% drop and a value of $0.02873, and BOME, which made headlines last March, with a 6.20% drop and a value of $0.0111.
While it remains a curiosity where BTC might reach in the coming hours, all eyes seem to be on the next FED meeting.
