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However, there was a surprise sell-off when the Federal Reserve made good on its intention to pause the historic interest rate hikes for the first time since March 2022. advertisement The largest cryptocurrency plunged recording losses of at least 4% following the Fed’s decision on interest rates. Although Bitcoin price is trading at $25,040 on Thursday, the sharp drop extended to $24,835, bringing the cumulative seven days losses to 5.1%. Bitcoin price chart | Source CoinGape Why is Bitcoin Price Falling Despite Pause on Interest Rate Hikes? As reported on Wednesday, at least 76% of the economists interviewed by Dow Jones expected the Fed to halt the long-standing interest rate hikes. Analysts generally believed this would be a boost for Bitcoin price and crypto. However, according to John Gilbert, a Market Analyst at eToro, while the Fed paused interest rates this month, the regulator signaled the possibility of further increases in the future. This st...

BTC price stability remains for the time being, but there's plenty in store to "scare" Bitcoin traders. Bitcoin (BTC) stayed steady near $17,000 at the Dec. 12 Wall Street open as news involving Binance failed to spark BTC price downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Factors line up to "scare" Bitcoin trade Data from Cointelegraph Markets Pro and TradingView showed BTC/USD avoiding fresh volatility as United States markets opened. Having traded sideways throughout the weekend, the pair offered few cues to analysts, who were waiting for U.S. macroeconomic data to shake up the status quo. This, in the form of the November Consumer Price Index (CPI) print, would nonetheless be a pivotal moment for crypto assets, they agreed, with the potential for significant upside and downside hinging on the numbers, due Dec. 13. Subsequent events involving the Federal Reserve would equally shape price performance, they said. In the meantime, howe...