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CryptoIntelligence 2024-03-21 05:53:24

Bitcoin Teeters on the Edge of $61,000 Amid Fed Decision and ETF Outflows

Bitcoin Teeters on the Edge of $61,000 Amid Fed Decision and ETF Outflows

On March 20, Bitcoin faced the possibility of dropping below $61,000 as experts cautioned that support levels might be on the verge of breaking. According to data from Cointelegraph Markets Pro and TradingView, Bitcoin’s price experienced further declines, reaching a low of $60,760 on Bitstamp. Currently, Bitcoin has fallen 17.5% from its peak, contending with selling pressure due to several significant challenges. Reports have highlighted factors such as withdrawals from the U.S.’s spot Bitcoin exchange-traded funds (ETFs) and the Federal Reserve’s decision on interest rates on March 20 as key contributors to the downward pressure on Bitcoin’s value. Although the

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