Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»Bitcoin price fell below $58,000 ahead of the FOMC, down 22% from its all-time high.
ADOPTION NEWS

Bitcoin price fell below $58,000 ahead of the FOMC, down 22% from its all-time high.

By Crypto FlexsMay 1, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price fell below ,000 ahead of the FOMC, down 22% from its all-time high.
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

Bitcoin prices plummeted ahead of the US FOMC announcement scheduled for this afternoon.

Bitcoin BTC

-8.87%
It fell below $58,000. The current price is around $57,400, down 9.6% over the past day. The cryptocurrency has been trending downward since hitting an all-time high above $73,000 in March.

The Federal Reserve is scheduled to announce its policy decision today at 2 PM ET, and Federal Reserve Chairman Jerome Powell is scheduled to begin his press conference at 2:30 PM.

According to Bloomberg, traders are expecting a potentially big move in the stock market due to concerns that the Federal Reserve will keep interest rates high for an extended period of time.

No change in interest rates is expected because inflation has not yet fallen sufficiently, CNBC said. But there are also hopes that interest rates will be lowered further.

Cryptocurrency markets tend to react strongly to FOMC meetings, usually seeing a large initial surge before stabilizing. Pre-announcement price action could suggest traders are gearing up for it.

The broader cryptocurrency market also headed south, with the GM30 index, which tracks the performance of the top 30 cryptocurrencies, down 9% to 118.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Tim is the editor-in-chief of The Block. Before joining The Block, Tim worked as a news editor at Decrypt. He holds a BA in Philosophy from York University and studied News Journalism at Press Association Training. X Follow him at @Timccopeland.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025

AI starts a cost -effective batch API for LLM request.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025
Most Popular

Namada allocates 3% of the token supply to incentivized testnet users.

December 15, 2023

Cardano’s Voltaire era is coming with a hard fork in June.

June 10, 2024

TRON surpasses Ethereum in two ways. What’s next for pricing?

January 10, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.