The price of Bitcoin has fallen for two consecutive days. The virtual asset market is showing weakness as the possibility of a U.S. interest rate cut diminishes.
According to CoinMarketCap, a global virtual asset market tracking site, the price of Bitcoin was recorded at $94,727 as of 7:20 a.m. on the 9th. This is a 2.20% decrease from the previous day. At the same time, the price of Ethereum fell to $3,315, a decrease of 2.03% compared to the previous day.
The recent stagnation in Bitcoin prices is attributed to the investment market's observation that the likelihood of a U.S. interest rate cut is low. Last month, the minutes from the Federal Open Market Committee (FOMC) were released, which indicated that Federal Reserve (Fed) Commissioners expressed concerns about increasing upside risks to inflation. Additionally, Fed Commissioners anticipated that the tariff policies of a potential Trump administration could have a greater impact on price levels than previously assumed. These factors contribute to the decreasing likelihood of an interest rate cut, leading to a drop in Bitcoin prices.