Bitcoin price dropped to $57k due to lack of positive news and rate cut speculation

From Investing.com

September 13, 2024 01:52:39 AM:

Bitcoin’s price dropped due to lack of positive news while benefiting from speculation of lower U.S. interest rates. Despite recouping some losses, it remained within a $50-$60k range. Uncertainty around regulation increased due to Kamala Harris potentially gaining ground over Trump. Bitcoin’s price was at $57,891.5.

Bitcoin saw a weekly gain of 6.9% mainly from bargain buying, staying within the $50-$60k range. It struggled for direction despite hitting record highs in March, diverging from gold. Trump refused further debates with Harris, impacting the pro-crypto stance.

Altcoins showed mixed prices following Bitcoin’s losses. Ethereum dropped 0.3% to $2,350.61, while others traded flat-to-low. Dogecoin rose by 6% and Shiba Inu by 0.7%. Focus was on an upcoming Federal Reserve meeting anticipating a rate cut decision.

Read more at Investing.com: down to $57k amid few positive cues, rate cut speculation By Investing.com