{"id":2687,"date":"2023-05-01T09:18:32","date_gmt":"2023-05-01T13:18:32","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/bitcoin-prices-fall-below-29000-attention-turns-to-the-federal-reserve\/"},"modified":"2023-05-01T09:18:33","modified_gmt":"2023-05-01T13:18:33","slug":"bitcoin-prices-fall-below-29000-attention-turns-to-the-federal-reserve","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=2687","title":{"rendered":"Bitcoin Prices Fall Below $29,000. Attention Turns to the Federal Reserve."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Bitcoin
\n and other cryptocurrencies were falling Monday\u00a0as traders positioned ahead of the Federal Reserve\u2019s monetary-policy decision on Wednesday. <\/p>\n

\n Bitcoin
\n has fallen 2.5% over the last 24 hours to $28,594. The drop marks a fall back from levels of close to $30,000 over the weekend for the largest cryptocurrency.\u00a0<\/p>\n

\n

Traders will be watching the outcome of the Fed\u2019s monetary-policy meeting this week as a catalyst for the direction of Bitcoin.\u00a0The 73% rally in Bitcoin prices this year has come amid expectations the Fed will be forced to loosen its policy.\u00a0<\/p>\n

\u201cIf the Fed indicates it\u2019s not done raising rates, all bets are off for crypto and other risk assets. If the Fed suggests it\u2019s done with rate hikes, it should galvanize the bulls and reignite the bull run,\u201d wrote Antoni Trenchev, co-founder and managing partner of crypto lender Nexo, in a research note.\u00a0<\/p>\n

Beyond Bitcoin,
\n Ether
\n \u2014the second-largest crypto\u2014dropped more than 3% to around $1,848. Smaller cryptos or altcoins were weaker, with
\n Cardano
\n falling around 3% and
\n Polygon
\n down 2.1%.
\n Dogecoin
\n was declining 3.2%.<\/p>\n

Write to Adam Clark at adam.clark@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 falling Monday\u00a0as traders positioned ahead of the Federal Reserve\u2019s monetary-policy decision on Wednesday. Bitcoin has fallen 2.5% over the last 24 hours to $28,594. The drop marks a fall back from levels of close to $30,000 over the weekend for the largest cryptocurrency.\u00a0 Traders will be watching the outcome of […]<\/p>\n","protected":false},"author":1,"featured_media":2688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-2687","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBitcoin Prices Fall Below $29,000. 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