{"id":22955,"date":"2023-06-15T08:29:03","date_gmt":"2023-06-15T12:29:03","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-prices-slips-after-fed-decision-where-prices-could-go-next\/"},"modified":"2023-06-15T08:29:04","modified_gmt":"2023-06-15T12:29:04","slug":"bitcoin-prices-slips-after-fed-decision-where-prices-could-go-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22955","title":{"rendered":"Bitcoin Prices Slips After Fed Decision. Where Prices Could Go Next."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies were declining after the Federal Reserve\u2019s decision to pause interest rates Wednesday. Digital assets may be particularly vulnerable to the central bank\u2019s projection of a higher terminal rate later this year. <\/p>\n

The price of
\n Bitcoin
\n has retreated 0.3% over the past 24 hours to about $25,842.14, slipping below the $26,000 and $27,000 range that has dominated for much of the period since the largest digital asset hit a 10-month high above $30,000 in April.\u00a0<\/p>\n

\n

\u201cThe bears may have the upper hand right now,\u201d said Alex Kuptsikevich, an analyst at FXPro. \u201cIf so, the declines might accelerate, to $25,700, directly leading to $24,800.\u201d<\/p>\n

Even though the Fed kept rates steady for the first time in more than a year, inflation remains above the central bank\u2019s 2% target. Fed officials see more rate hikes later this year. Higher borrowing costs are anathema to crypto by encouraging investors to choose less-risky assets.<\/p>\n

The
\n Dow Jones Industrial Average
\n and
\n S&P 500
\n fell after the announcement on Wednesday.<\/p>\n

Other cryptocurrencies were also broadly trading lower.
\n Ethereum,<\/span>
\n the second-biggest coin, was down 1.1%.
\n Cardano
\n lost 1.8% and
\n Polygon
\n was up 0.9%.
\n Dogecoin
\n slipped 0.1%, while
\n Shiba Inu
\n climbed 0.2%.<\/p>\n

Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies were declining after the Federal Reserve\u2019s decision to pause interest rates Wednesday. Digital assets may be particularly vulnerable to the central bank\u2019s projection of a higher terminal rate later this year. The price of Bitcoin has retreated 0.3% over the past 24 hours to about $25,842.14, slipping below the $26,000 and […]<\/p>\n","protected":false},"author":1,"featured_media":18508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-22955","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Prices Slips After Fed Decision. 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