Bitcoin under renewed pressure as looming Fed hike adds to woes
Bitcoin, which fell 4% in US trading, declined further in Asia Wednesday before stabilising at around $75 700 at 11:50 a.m. in Singapore.
Bitcoin fell 4% in US trading and declined further in Asia before stabilising near $75,700, reflecting sensitivity to anticipated Federal Reserve rate hikes. For African markets, where crypto adoption has grown as an inflation hedge and remittance channel, tightening US monetary policy could weigh on digital asset valuations and related trading volumes.
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