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Bitcoin gives back new year rally as traders weigh ETF decision
source link: https://www.cnbc.com/2024/01/03/bitcoin-drops-5percent-giving-back-all-of-its-new-year-gains-as-traders-stay-on-etf-watch.html
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Crypto World
Bitcoin gives back Tuesday’s new year rally as traders weigh ETF decision, Fed policy
Published Wed, Jan 3 20249:27 AM ESTUpdated Wed, Jan 3 20244:38 PM EST
Key Points
- Bitcoin gave back much of the gains from its Tuesday rally, when it reached its highest level since April 2022.
- Investors cited some concern that the U.S. Securities and Exchange Commission wouldn’t approve an ETF this year as expected by many bitcoin bulls.
- The market also scanned the latest Federal Reserve meeting minutes, which saw the central bank warn that rates may stay “at a restrictive stance for some time,” and remarks from Richmond Fed President Barkin saying interest rate hikes remain “on the table.”
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