Investing.com– Bitcoin fell for the fourth consecutive day on Tuesday as a rally sparked by Donald Trump’s presidential election victory lost steam after the Federal Reserve turned hawkish last week.
fell 2% to $94,159.4 by 00:22 ET (05:22 GMT). It fell below the $93,000 level on Monday.
The token had fallen below the key $100,000 level last week after the Fed officials signaled a slower pace for future cuts. Bitcoin has declined for six out of the last seven days.
Bitcoin loses steam after record peak on Fed rate outlook
Bitcoin recorded its first weekly fall since Trump’s election win in early November, last week.
The rally had pushed prices to an all-time high of $108,244.9, after which prices fell due to profit-taking amid macroeconomic pressures induced by the Fed rate outlook.
The central bank lowered rates by 25 basis points but indicated…
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