Investing.com– Bitcoin’s price moved little on Wednesday, steadying after recent losses as traders hunkered down before more cues on U.S. interest rates from the Federal Reserve and inflation data.
A rebound in the world’s biggest cryptocurrency ran dry this week as traders priced in a slower pace of interest rate cuts by the Fed in the coming months. Pressure from a firmer dollar also weighed on broader crypto markets, while risk appetite soured.
fell 0.1% to $62,466.2 by 01:50 ET (05:50 GMT).
Fed minutes, inflation data on tap
Focus was now squarely on the of the Fed’s September meeting, due later on Wednesday, for more cues on interest rates. The central bank cut rates by 50 basis points in September and announced the start of an easing cycle.
Strong payrolls data released last week raised questions over just how much impetus the Fed has to keep cutting rates sharply. Traders…
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