Bitcoin price falls below $65,000

The price of the cryptocurrency Bitcoin has fallen below $65,000 amid uncertainty regarding the future steps to be taken by the US Federal Reserve (Fed).

According to data from the analysis firm Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, has decreased by 6.7 percent in 24 hours, falling to 2 trillion 460 billion dollars.

Analysts state that the decline in the prices of Bitcoin and other cryptocurrencies is occurring due to diminishing expectations that the Fed will begin interest rate cuts in June and increasing uncertainty regarding the timeline.

Bitcoin, which has experienced a decline of more than 7.4 percent in the last 24 hours as of 16:40 TSI today, has dropped to the $64,712 level.

Bitcoin had gained approximately 157 percent in value last year.

Ethereum, which ranks 2nd in terms of market value, also lost nearly 10 percent of its value in the last 24 hours, falling to the $3,242 level.

Ethereum had also set a record in 2021 by climbing above $4,800.

News Source: AA