A shift in interest-rate expectations is driving Bitcoin's latest decline, as traders move from anticipating Federal Reserve cuts to bracing for a potential rate hike by October. Higher borrowing costs typically pressure risk assets like cryptocurrencies, prompting a broad sell-off. According to CryptoSlate's data, Bitcoin fell more than 4% over the past 24 hours, dropping below $60,000 and reaching its lowest level since October 2024. The move triggered roughly $1 billion in losses across the market as leveraged positions unwound. The repricing of monetary policy reflects growing concern that the Fed may tighten conditions rather than ease them, reversing earlier optimism among investors. The downturn underscores Bitcoin's continued sensitivity to macroeconomic signals and shifting expectations around central bank policy, which have become key drivers of short-term price action across digital assets.
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