{"id":538038,"date":"2023-06-15T06:31:34","date_gmt":"2023-06-15T06:31:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=538038"},"modified":"2023-06-15T06:49:54","modified_gmt":"2023-06-15T06:49:54","slug":"bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits\/","title":{"rendered":"Bitcoin Price Hammered Below $25,000 Amid Fed&#8217;s Hawkish Tone, SEC Lawsuits"},"content":{"rendered":"<p>For the first time since mid-March, Bitcoin\u00a0price dropped <a href=\"https:\/\/www.barrons.com\/articles\/what-to-know-today-10ed8862\" target=\"_blank\" rel=\"noopener nofollow\">below $25,000<\/a> as trade volumes decreased and the U.S. Federal Reserve left interest rates untouched based on projections but warned of additional hikes this year to combat inflation.<\/p>\n<p>At the time of writing, Bitcoin was trading at $24,995, down 3.8% in the last 24 hours, data from crypto market tracker CoinMarketCap shows. BTC has now lost 5.26% of its value in the last seven days. Crypto assets may be particularly vulnerable to the central bank\u2019s projection of a higher terminal rate later this year.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/polkadot-in-bearish-zone\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Polkadot Ventures Into Bearish Zone: What\u2019s The Next Move For DOT?<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-538040\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?resize=1168%2C89\" alt=\"\" width=\"1168\" height=\"89\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=1168 1168w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/BTC.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: CoinMarketCap<\/pre>\n<p><a href=\"https:\/\/finance.yahoo.com\/news\/bitcoin-ether-top-10-crypto-005129734.html\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin price<\/a> had been stable around $26,000 for the past few days as the market processed the SEC&#8217;s lawsuit against Binance and Coinbase and rising macroeconomic anxiety about interest rate signals from the Fed.<\/p>\n<h2><strong>SEC Lawsuits, Hawkish Fed Message Hammer Bitcoin Price<\/strong><\/h2>\n<p>According to Benjamin Stani, head of business development and sales at cryptocurrency trading platform Matrixport, the SEC&#8217;s lawsuit against the two largest cryptocurrency exchanges is a major factor in the market&#8217;s recent losses. The majority of altcoins also took a beating in value as a result.<\/p>\n<p>CoinMarketCap data shows that in the past 24 hours, the entire cryptocurrency market cap has dropped 2.7%, to $1.02 trillion, while daily crypto trading volume has decreased 5.3%\u00a0to $31.89 billion.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/avMlb8P8\/\" width=\"2314\" height=\"1109\"><\/p>\n<pre style=\"text-align: center\">BTCUSD drops to the $24K level. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>Despite widespread expectations for a rate suspension, the Federal Open Markets Committee signaled future rate hikes in its statement, which normally dampens investor enthusiasm for risk assets like cryptocurrencies.<\/p>\n<p>Since early 2022, the US central bank\u00a0has been gradually increasing interest rates, with the most severe effects seen by the riskiest assets. When interest rates rise, it becomes more expensive to borrow money, which leads to lower levels of investment and consumer spending.<\/p>\n<p>And because of the prolonged crypto winter, Bitcoin has been plunging since the beginning of the year. Analysts say it may take awhile for the alpha coin to muster a strong rebound and break past the key $27K or $28K level given the cryptocurrency&#8217;s sluggish performance of late.<\/p>\n<h2><strong>Sluggish XRP Creates Negative Ripples Across Bitcoin Market<\/strong><\/h2>\n<p>Add to the ongoing misery for Bitcoin is the disappointment emanating from the<a href=\"https:\/\/uniquehot.com\/news\/xrp-in-red-despite-hinman-docs-release\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \"> XRP<\/a> community following the release of the Hinman documents, that many expected would be a savior of sorts to the price of the token and its creator Ripple, whose legal tussle with the SEC has yet to see closure.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-538046 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-85.png?resize=860%2C469\" alt=\"\" width=\"860\" height=\"469\"><\/p>\n<pre style=\"text-align: center\">BTC price on a downward trajectory. Source: TradingView.<\/pre>\n<p>These Hinman emails are critical in the ongoing case between Ripple and SEC. Whatever negative news comes out of it affects Bitcoin price &#8211; and crypto in general &#8211; in many ways.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/tether-shuffles-the-deck-750-million-usdt-shifted-from-tron-to-ethereum\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Tether Shuffles The Deck: 750 Million USDT Shifted From Tron To Ethereum<\/a><\/div>\n<p>Meanwhile, as technical factors\u00a0play out, IntoTheBlock reports that Bitcoin-related negativity on Twitter has reached an all-time high. It emphasizes the relevance of this fact, which is that large peaks have typically occurred just before or after price lows in the past.<\/p>\n<p>Santiment, an on-chain analytics company, also reports that the number of Bitcoins available for trading has hit a new low not seen since February 2018. Even while lawsuits continue against Binance and Coinbase, it has been reported that traders have continued to move BTC into self-custody.<\/p>\n<p><em>Featured image from Pixels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the first time since mid-March, Bitcoin\u00a0price dropped below $25,000 as trade volumes decreased and the U.S. Federal Reserve left interest rates untouched based on projections but warned of additional hikes this year to combat inflation. At the time of writing, Bitcoin was trading at $24,995, down 3.8% in the last 24 hours, data from crypto market tracker CoinMarketCap shows. BTC has now lost 5.26% of its value in the last seven days. Crypto assets may be particularly vulnerable to the central bank\u2019s projection of a higher terminal rate later this year. Related Reading: Polkadot Ventures Into Bearish Zone: What\u2019s The Next Move For DOT? Source: CoinMarketCap Bitcoin price had been stable around $26,000 for the past few days as the market processed the SEC&#8217;s lawsuit against Binance and Coinbase and rising macroeconomic anxiety about interest rate signals from the Fed. SEC Lawsuits, Hawkish Fed Message Hammer Bitcoin Price According to Benjamin Stani, head of business development and sales at cryptocurrency trading platform Matrixport, the SEC&#8217;s lawsuit against the two largest cryptocurrency exchanges is a major factor in the market&#8217;s recent losses. The majority of altcoins also took a beating in value as a result. CoinMarketCap data shows that in the past 24 hours, the entire cryptocurrency market cap has dropped 2.7%, to $1.02 trillion, while daily crypto trading volume has decreased 5.3%\u00a0to $31.89 billion. BTCUSD drops to the $24K level. Chart: TradingView.com Despite widespread expectations for a rate suspension, the Federal Open Markets Committee signaled future rate hikes in its statement, which normally dampens investor enthusiasm for risk assets like cryptocurrencies. Since early 2022, the US central bank\u00a0has been gradually increasing interest rates, with the most severe effects seen by the riskiest assets. When interest rates rise, it becomes more expensive to borrow money, which leads to lower levels of investment and consumer spending. And because of the prolonged crypto winter, Bitcoin has been plunging since the beginning of the year. Analysts say it may take awhile for the alpha coin to muster a strong rebound and break past the key $27K or $28K level given the cryptocurrency&#8217;s sluggish performance of late. Sluggish XRP Creates Negative Ripples Across Bitcoin Market Add to the ongoing misery for Bitcoin is the disappointment emanating from the XRP community following the release of the Hinman documents, that many expected would be a savior of sorts to the price of the token and its creator Ripple, whose legal tussle with the SEC has yet to see closure. BTC price on a downward trajectory. Source: TradingView. These Hinman emails are critical in the ongoing case between Ripple and SEC. Whatever negative news comes out of it affects Bitcoin price &#8211; and crypto in general &#8211; in many ways. Related Reading: Tether Shuffles The Deck: 750 Million USDT Shifted From Tron To Ethereum Meanwhile, as technical factors\u00a0play out, IntoTheBlock reports that Bitcoin-related negativity on Twitter has reached an all-time high. It emphasizes the relevance of this fact, which is that large peaks have typically occurred just before or after price lows in the past. Santiment, an on-chain analytics company, also reports that the number of Bitcoins available for trading has hit a new low not seen since February 2018. Even while lawsuits continue against Binance and Coinbase, it has been reported that traders have continued to move BTC into self-custody. Featured image from Pixels<\/p>\n","protected":false},"author":557,"featured_media":538051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[679,1119,3680,3799,4531],"class_list":["post-538038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-price","tag-btc","tag-ripple","tag-sec","tag-xrp"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Takes A Beating Below $25K Amid Fed Hawkish Tone<\/title>\n<meta name=\"description\" content=\"For the first time since mid-March, Bitcoin\u00a0price dropped below $25,000 as trade volumes decreased and the U.S. Federal Reserve left interest rates\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Hammered Below $25,000 Amid Fed&#8217;s Hawkish Tone, SEC Lawsuits","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-87.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-87.png?fit=765%2C469"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin price","btc","ripple","sec","xrp"],"dateCreated":"2023-06-15T06:31:34Z","datePublished":"2023-06-15T06:31:34Z","dateModified":"2023-06-15T06:49:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Hammered Below $25,000 Amid Fed&#8217;s Hawkish Tone, SEC Lawsuits\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-hammered-below-25000-amid-the-feds-hawkish-tone-sec-lawsuits\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-87.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/a-87.png?fit=765%2C469\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin price\",\"btc\",\"ripple\",\"sec\",\"xrp\"],\"dateCreated\":\"2023-06-15T06:31:34Z\",\"datePublished\":\"2023-06-15T06:31:34Z\",\"dateModified\":\"2023-06-15T06:49:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/a-87.png?fit=765%2C469","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/538038"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=538038"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/538038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/538051"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=538038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=538038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=538038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}