Bitcoin’s price experienced a dip over the weekend, reversing gains that saw it peak at $97,000. On Monday, global exchanges recorded a nearly two percent decrease, placing its value around $94,407 (approximately Rs. 79.5 lakh). Indian exchanges mirrored this trend, with a 2.25 percent drop, settling Bitcoin at $94,413 (roughly Rs. 79.5 lakh).
Market analysts attribute this cautious market behavior to the impending US Federal Open Market Committee (FOMC) meeting. Investors are seemingly hesitant to make significant moves ahead of potential policy announcements from the FOMC, creating downward pressure on Bitcoin’s price. The fluctuating value highlights the sensitivity of the cryptocurrency market to macroeconomic factors and regulatory uncertainties.
