Bloomberg: Bitcoin fell to a one-week low today, and the market lacks positive support

Odaily News Bitcoin fluctuated on Tuesday, suggesting traders were nervous ahead of U.S. inflation data and the Federal Reserve's monetary policy decision. As of around 11 a.m. Singapore time, Bitcoin fell 2.5% to a one-week low and has now rebounded above $68,000. Other mainstream currencies such as Ethereum and Dogecoin also fell simultaneously. Inflation data and the Federal Reserve's outlook released on Wednesday are likely to exacerbate concerns that interest rates will remain high for longer, which is a difficult backdrop for speculative assets such as cryptocurrencies. Anand Gomes, co-founder of derivatives platform Paradigm, said: "In the crypto space, no news is bad news. The market is like an addict, constantly needing good news to support it." (Bloomberg)