Bitcoin Ends September With First Quarterly Loss This Year Amid Economic Uncertainties
Portfolio Pulse from Bibhu Pattnaik
Bitcoin is set to record its first quarterly drop for the year, having declined approximately 11% since June. The downturn follows a robust 83% ascent in the first half of 2023. The Federal Reserve's decision to keep interest rates stable has heightened investor apprehension, leading to declines in both traditional and digital asset markets. The US Securities and Exchange Commission recently postponed its verdict on Bitcoin ETF proposals from BlackRock Inc.
September 30, 2023 | 8:08 pm
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NEGATIVE IMPACT
The US Securities and Exchange Commission recently postponed its verdict on Bitcoin ETF proposals from BlackRock Inc.
The SEC's postponement of its verdict on Bitcoin ETF proposals from BlackRock Inc. creates uncertainty for the company and its potential role in the cryptocurrency market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Bitcoin is expected to record its first quarterly drop for the year, influenced by the Federal Reserve's decision to keep interest rates stable and the SEC's postponement of Bitcoin ETF verdict.
The Federal Reserve's decision to keep interest rates stable has led to a decline in risk-prone assets like Bitcoin. Additionally, the SEC's postponement of its verdict on Bitcoin ETF proposals has created uncertainty in the market, further impacting Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100