Investing.com– Bitcoin price slipped on Thursday, extending a recent decline and taking little support from a rally on Wall Street after the Federal Reserve flagged the possibility of a September interest rate cut.
Sentiment towards crypto markets was largely constrained by fears of a mass sale event by the U.S. government, which was seen mobilizing about $2 billion worth of Bitcoin earlier this week.
A boost from crypto-positive promises from Republican presidential nominee Donald Trump also largely ran dry, after a Bloomberg poll showed Democratic frontrunner Kamala Harris wiped out Trump’s lead in seven battleground states.
fell 2% in the past 24 hours to $64,782.8 by 08:55 ET (12:55 GMT)
Fed talks rate cuts, but Bitcoin sees little price action
The Fed as widely expected on Wednesday, with Chair Jerome Powell flagging more progress towards cooling inflation and a softer labor market.
