Bitcoin fell around 5% in the past 24 hours to $56,837, falling below the $57,000 mark for the first time since May 1, according to data from crypto ranking site CoinGecko.
Minutes from the Federal Reserve's June meeting showed officials are reluctant to lower interest rates until additional data shows inflation moving toward the central bank's 2% target.price slumped to around $57,000 apiece Thursday, hitting a two-month low after the U.S. Federal Reserve released minutes from its June meeting indicating the central bank isn't yet ready to cut interest rates.
Bitcoin stormed to an all-time high of above $73,700 in March this year after the Securities and Exchange Commission approved the first U.S. spot bitcoin exchange-traded fund, or ETF. The last bitcoin halving took place on April 19 this year, so those historical timeframes have yet to pass.
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