Bitcoin Faces the Risk of Crashing Towards $100,000.. and Surprising Statements from the Federal Reserve. Bitcoin and Ethereum (ETH) traders have been taking profits over the past twenty-four hours after the assets reached record levels, at a time when pressures on major cryptocurrencies have increased due to adverse economic winds and the accumulation of debts in the market.
The price of Bitcoin fell to $113,500, down more than 1.5% on Wednesday, after breaking key support levels that have long bolstered its recent rally. Some analysts warned of the fragility of the current market structure.
In a related context, the chief regulatory official at the U.S. Federal Reserve suggested on Tuesday that central bank employees be allowed to hold small amounts of cryptocurrency products, emphasizing that this practical experiment would help them gain a better understanding of the markets they monitor.
