Bitcoin falls after best month since November 2024
Bitcoin
Cryptocurrency prices declined during Tuesday’s trading as investors monitored tensions in the Middle East and growing expectations of interest-rate hikes by central banks.
Traders raised the probability of a Federal Reserve rate hike in September to 67%, continuing a reassessment that began last week after Fed Chair Kevin Warsh reaffirmed his commitment to curbing inflation.
Meanwhile, bets that the Bank of Japan will raise its policy rate by 25 basis points at its meeting in two weeks climbed to more than 90%.
Bitcoin was trading at around $78,500, after gaining 25% in August, marking its strongest monthly performance since November 2024.
|
Changes in Cryptocurrency Prices |
|||
|
Cryptocurrency |
Price (USD) |
Change (USD) |
Change (%) |
|
Bitcoin |
78,583.25 |
(336.11) |
(0.43%) |
|
Ethereum |
2,469.80 |
(12.44) |
(0.50%) |
|
XRP |
1.3794 |
(0.007) |
(0.50%) |
Prices as of 10:38 a.m. Makkah time
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