Investing.com– Bitcoin slipped on Thursday, retreating further from its recent peak as the U.S. Federal Reserve’s hawkish outlook raised concerns about tighter monetary conditions and eroded risk appetite.
Fed Chair Jerome Powell also said the central bank has no intention of participating in any government initiative to stockpile substantial amounts of Bitcoin, further dampening sentiment.
fell 2.6% to $101,153.0 by 01:08 ET (06:09 GMT). The crypto briefly fell fell below $100,000 during the session.
The world’s largest cryptocurrency had hit an all-time high of $108,244.9 on Tuesday after incoming President Donald Trump further raised the prospect of a Strategic Bitcoin Reserve last week.
Bitcoin drifts lower on Fed’s hawkish tone
The Fed reduced by 25 basis points but signaled it will adopt a slower pace for future cuts.
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