Bitcoin Plunges to $57,700 Amid Risk-Off Sentiment Ahead of Fed Rate Decision from com base rate notu Watch Video
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⏲ Duration: 0:36 👁 View: 430K times ✓ Published: 02-May-2024
Description: Bitcoin fell to around $57,700 in early trading on Wednesday, as the crypto market dropped around 9%. The declines came amid risk-off sentiment ahead of the Fed's interest rate decision later today. Ether dropped below $3,000 while altcoins like Dogecoin and Solana recorded sizable losses. Bitcoin saw its worst monthly performance in April since November 2022. Analysis from 10x Research estimates further downside pressure toward $52,000 based on outflows from the U.S. spot exchange-traded funds.