{"id":21551,"date":"2023-09-23T06:35:09","date_gmt":"2023-09-23T06:35:09","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/bitcoin-prices-fall-why-theres-hope-for-a-rebound\/"},"modified":"2023-09-23T06:35:10","modified_gmt":"2023-09-23T06:35:10","slug":"bitcoin-prices-fall-why-theres-hope-for-a-rebound","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=21551","title":{"rendered":"Bitcoin Prices Fall. Why There\u2019s Hope for a Rebound."},"content":{"rendered":"
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Bitcoin has fallen back from levels of above $27,000 after the Federal Reserve held steady on interest rates.<\/h4>\n


\n Dreamstime
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

\n Bitcoin
\n and other cryptocurrency prices were dropping Friday as the dollar strengthened and some risk-aversion lingered after the latest series of central-bank decisions.\u00a0<\/p>\n

\n Bitcoin
\n has fallen 1% over the last 24 hours to $26,644. A hawkish tone accompanying the Federal Reserve\u2019s decision to hold rates steady has strengthened the dollar and led Bitcoin to drop briefly below $26,500 before recouping some of its losses. The largest cryptocurrency, however, has failed to regain $27,000, its level before the Fed decision.\u00a0\u00a0<\/p>\n

\n

\u201c[Bitcoin] managed to close above $26,500 on Thursday, which was a persistent resistance last week, and continues to defend that level,\u201d said Yuya Hasegawa, an analyst at crypto exchange Bitbank. \u201cIf \u2026 volatility in wider financial markets subsides as expected, Bitcoin could see a slight rebound in the next couple of days.\u201d\u00a0<\/p>\n

However, catalysts for a stronger rally still look few and far between as federal lawmakers remain stalled on initiatives for comprehensive crypto legislation.\u00a0<\/p>\n

Beyond Bitcoin, other cryptocurrencies were also largely falling.
\n Ether
\n \u2014the second-largest crypto\u2014was down 1% to $1,595. Smaller cryptos, or altcoins, also were in the red, with
\n Cardano
\n falling 1.3% and
\n Solana
\n dropping 0.2%. Memecoins exhibited more of the same, with
\n Dogecoin
\n down 1.5%.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has fallen back from levels of above $27,000 after the Federal Reserve held steady on interest rates. Dreamstime Bitcoin and other cryptocurrency prices were dropping Friday as the dollar strengthened and some risk-aversion lingered after the latest series of central-bank decisions.\u00a0 Bitcoin has fallen 1% over the last 24 hours to $26,644. A hawkish<\/p>\n","protected":false},"author":1,"featured_media":21552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-21551","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nBitcoin Prices Fall. Why There\u2019s Hope for a Rebound. | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Bitcoin has fallen back from levels of above $27,000 after the Federal Reserve held steady on interest rates. 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