Bitcoin saw a minor decline, dropping below the $67,000 threshold, as investors deliberated over the prospects of US interest rates following the Federal Reserve's moderation of its rate-cut expectations, despite softer-than-anticipated inflation data.
As of 11:58 am IST, Bitcoin was trading 0.74% lower at $66,955.
"Bitcoin dropped to $66,000 as investors and traders reacted to a hawkish interest rate outlook. The U.S. central bank kept rates unchanged on Wednesday and forecasted just one rate cut this year, contributing to Bitcoin's decline," said Edul Patel, CEO of Mudrex.
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