Bitcoin’s Future Amid SEC Scrutiny and Federal Reserve Rate Hike

Had the SEC not brought down its legal hammer on the crypto market last week, Bitcoin’s price would likely be in a far more favourable position today. Yet, due to the lawsuits and lower than expected inflation, the interest rates failed to push the price to the desired level. It raises the question: what is Bitcoin’s next target? Could the recent slump actually be a strong signal? Bitcoin: An Uncertain Future After successfully defending the $25,500 support level, the king of cryptocurrencies has been trading in a narrow 3.4% range for the past three days. During this period, investors’ attention shifted to macroeconomic factors, mainly the U.S. Federal Reserve’s interest rate decision to be announced on June 14th. Though not directly linked, the crypto market is indirectly influenced by the cost of capital. Cryptocurrencies, now included in risk markets, have been experiencing constant downturns for more than a year due […] The post Bitcoin’s Future Amid SEC Scrutiny and Federal Reserve Rate Hike appeared first on COINTURK NEWS.