Bitcoin continued its recent consolidation to trade at around $27.3K Monday afternoon, down 0.4% in the past 24 hours. BTC dropped below $28K on Friday afternoon, part of a two-day slide that followed a week above $30K. _jocelynyang_ reports
The largest cryptocurrency by market capitalization was recently trading at around $27,350, down 0.4% in the past 24 hours, according to CoinDesk data. BTC dropped below $28,000 on Friday afternoon, part of a two-day slide that followed a week above $30,000. At one point, bitcoin was changing hands near $27,100.
“Market participants seem to be exercising some caution in light of the heightened probability of the Federal Reserve maintaining interest rates higher for longer, as well as several economic metrics signaling weakness in the economy,” Callahan said.currently shows a 91% probability of the U.S. central bank raising interest rates 25 basis points .
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