With BTC price action more than $1,000 lower, Bitcoin is eating away at the gains that came after the Federal Reserve announced interest rate changes.
Following the Wall Street open on November 2, Bitcoin (BTC) fell below $35,000 because of a warning from analysts about "overheated" derivatives.
The largest cryptocurrency was in the midst of stabilizing after reaching new 18-month highs of $35,968 on Bitstamp.
The peak was reached following upbeat remarks made by US Federal Reserve Chair Jerome Powell, who hinted that interest rate increases would soon come to an end in a speech.
At the Federal Open Market Committee's (FOMC) most recent meeting on November 1, the Fed decided against raising interest rates.
Following the Wall Street open on November 2, Bitcoin (BTC) fell below $35,000 because of a warning from analysts about "overheated" derivatives.
The largest cryptocurrency was in the midst of stabilizing after reaching new 18-month highs of $35,968 on Bitstamp.
The peak was reached following upbeat remarks made by US Federal Reserve Chair Jerome Powell, who hinted that interest rate increases would soon come to an end in a speech.
At the Federal Open Market Committee's (FOMC) most recent meeting on November 1, the Fed decided against raising interest rates.
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