Bitcoin Falls 1% From Daily High to $66,500
Bitcoin declined about 1% from its intraday peak to $66,500 in late U.S. afternoon trading. The cryptocurrency remains 4.5% higher over the past 24 hours. Broader equity markets also moved higher near the close.
CoinDeskBitcoin declined about 1% from its intraday peak to $66,500 in late U.S. afternoon trading, according to market data reported by CoinDesk. The cryptocurrency remains 4.5% higher over the past 24 hours. A separate equity listing added 18% to its prior session gain and reached $190, bringing its cumulative increase since the initial public offering to 40%.
The broader equity index also reached a session high and stood 3% higher minutes before the close of trade. Market participants noted that reduced focus on Middle East developments could shift attention toward other factors. The U.S. Federal Reserve policy meeting is scheduled for Tuesday and Wednesday.
Markets do not expect any rate changes at this meeting but have priced in one or more rate increases before year-end. A ceasefire in April collapsed, and U.S. strikes broke a second truce on June 9, with bitcoin reversing its earlier gains on both occasions.
