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Source: Bitcoin Price Dips Below $10K as BTC Shrugs Off Its First Fed Rate Cut<\/a><\/em><\/p>\n Data from Coin360 showed the largest\u00a0cryptocurrency<\/a>\u00a0hovering just below the significant barrier once more Thursday, having climbed as high as $10,138 in the past 24 hours.<\/p>\n A sudden uptick took BTC\/USD $500 higher Wednesday, a move which itself followed a dramatic downturn over the weekend which saw the pair\u00a0shed $800 in minutes<\/a>.<\/p>\n Bitcoin 7-day price chart. Source:\u00a0Coin360<\/a><\/em><\/p>\n The temporary return to $10,000 accompanied\u00a0fresh debate<\/a>\u00a0on crypto and blockchain regulation in the\u00a0United States<\/a>, while this week\u2019s rate cut also served to fuel excitement among traders.<\/p>\n As various sources noted, the cut was the first from the Fed since Bitcoin\u2019s creation over ten years ago.<\/p>\n \u201cIn preparation for the halving, the Federal Reserve is cutting interest rates to further highlight Bitcoin’s economic innovation. Everybody, be sure to thank Jerome Powell for sticking to the Bitcoin as store of value thesis!\u201d Michael Goldstein, president of the Nakamoto Institute, commented on\u00a0Twitter<\/a>\u00a0about the event.<\/p>\n At press time, however, Bitcoin appeared broadly unaffected by U.S. economic policy compared to its behavior in light of regulatory noises throughout last month.<\/p>\n As Cointelegraph\u00a0reported<\/a>, mixed messages from Congressmen and others produced significant volatility, with BTC\/USD still down $4,000 versus its July highs. Compared to exactly one month ago, however, the pair has tracked neither up nor down.<\/p>\n A similar picture presented on\u00a0altcoin<\/a>\u00a0markets. Sideways action has defined the top twenty cryptocurrencies by market cap in recent days, tokens moving in step with Bitcoin.<\/p>\n Ether (ETH<\/a>) the largest altcoin by market cap, moved up by a modest 0.7% on Friday to hit $213, having spent the past week in a corridor between $200 and $223.<\/p>\n Ether 7-day price chart. Source:\u00a0Coin360<\/a><\/em><\/p>\n Other major alts broadly replicated such behavior, an exception being Litecoin (LTC<\/a>), which gained 4.8% to lead the market as its halving is now less than a week away.<\/p>\n By contrast, Bitcoin Cash (BCH<\/a>) and its fork, Bitcoin SV (BSV<\/a>) both lost around 2.5% in Friday trading.<\/p>\n The total cryptocurrency market cap stood at $273 billion, with Bitcoin\u2019s share at 65.1% of the total.<\/p>\n Source: Bitcoin Price Dips Below $10K as BTC Shrugs Off Its First Fed Rate Cut Bitcoin (BTC) price fell back below $10,000 on August 1 as markets broadly shook off the first\u00a0Federal Reserve\u00a0interest rate cut since 2008. Bitcoin doesn\u2019t care about the Fed Data from Coin360 showed the largest\u00a0cryptocurrency\u00a0hovering just below the significant barrier once … Continue reading Bitcoin Price Dips Below $10K as BTC Shrugs Off Its First Fed Rate Cut<\/span> Bitcoin (BTC<\/a>) price fell back below $10,000 on August 1 as markets broadly shook off the first\u00a0Federal Reserve<\/a>\u00a0interest rate cut since 2008.<\/h2>\n
Bitcoin doesn\u2019t care about the Fed<\/h2>\n
Altcoins stagnate further<\/h2>\n
KEEP TRACK OF TOP CRYPTO MARKETS IN REAL TIME\u00a0HERE<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"