Industry Odisha Bureau, Jul 29: The price of Bitcoin (Crypto: BTC) reportedly dropped over 2%, i.e. $63,000 per token and marked its lowest level in about 10 days yesterday owing to the uncertainty over US Federal Reserve’s policy and inflation data.
International media reported that, “The Bitcoin price fall has been caused because the investors became more cautious owing to the weakness in artificial intelligence (AI)-related stocks, uncertainty around the Federal Reserve’s next interest rate decision, and concerns over delays in major crypto legislation in the US.”
According to Yahoo Finance, “AI stock sell-off, Fed uncertainty and crypto law delays hurt Bitcoin sentiment.”
International media, quoting market experts and analysts, stated that, “Bitcoin could face more weakness if the crypto legislation fails to move forward. It may, however, find strong support near the $55,000 level if prices fall further. Nevertheless, the US Federal Reserve’s policy decision could influence the Bitcoin prices.”
International media, quoting market experts and analysts, added that, “Bitcoin has since stabilised above $58,000 after giving back around 60% of the gains made during the 2022–2025 rally. Its recent price action suggests that the cryptocurrency could be moving toward a bottom, although another decline cannot be ruled out.”
International media, quoting market experts and analysts, further stated that, “Bitcoin’s 200-day moving average is currently around $72,000. Reclaiming this level could be an important signal that Bitcoin’s trend is improving.”
