Bitcoin price today: Drops to a two-week low near 113,000 dollars before the Federal Reserve meeting in Jackson Hole. Bitcoin continued to decline, reaching a two-week low on Wednesday as investors reduced their positions ahead of the Federal Reserve symposium in Jackson Hole, assessing geopolitical risks with the possibility of talks between Russia and Ukraine.
The largest cryptocurrency in the world traded down 1.1% at 113,728.5 dollars at 09:03 AM Saudi time.
It was on the verge of reaching a six-week low as it dropped to 112,668 dollars earlier in the session.
The currency had risen to a record high above 124,000 dollars last week but fell sharply after strong U.S. data reduced bets on a significant rate cut by the Federal Reserve next month.
Investors are awaiting the Jackson Hole meeting and potential talks between Russia and Ukraine$BTC