Bitcoin falls with equities as markets position for a single Fed rate cut this year | Headlines | News | CoinMarketCap
06/14/2024 17:20
Bitcoin is struggling to recover after the U.S. Federal Reserve suggested on Wednesday it would pencil in only one rate cut this year. The U.S. …
Bitcoin is struggling to recover after the U.S. Federal Reserve suggested on Wednesday it would pencil in only one rate cut this year.
The U.S. central bank's more hawkish tones impacted equity markets, and bitcoin has mirrored their downtrend by declining over the past day. Futures ticked lower after this week's Federal Open Market Committee meeting. Dow Jones Industrial Average futures dropped 0.63% and S&P 500 futures were down 0.33% in pre-market trading.
Meanwhile, major European and UK equity indices were red. In London, the FTSE 100 posted a 25.56-point decrease to 8,138.11 in mid-day trading. The European Stoxx 600 index decreased 2.33 points to 513.71.
Bitcoin correlated with the overall move lower, decreasing by around 1% in the past …