Investing.com– Bitcoin’s price slipped on Tuesday, pulling back from recent gains amid growing bets that U.S. interest rates will fall at a slower pace than initially anticipated.
A risk-off sentiment in broader financial markets, especially stocks, also spilled over into crypto, driving down prices across the board. Anticipation of more signals from the Federal Reserve and key inflation data this week kept traders on edge.
fell 0.6% to $62,564.0 by 09:00 ET (13:00 GMT).
Bitcoin weighed by stronger dollar, bets on smaller rate cut
Strength in the weighed on crypto markets, as the greenback remained in sight of recent seven-week peaks.
surged after data released last week showed the U.S. labor market remained strong, potentially eliciting a slower pace of rate cuts from the Fed.
Traders were seen pricing in an 81% chance for a 25 basis point cut in November, and a…
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