Bitcoin Falls Amid Lower Strategy Demand, Stalled U.S. Crypto Bill — Market Talk

Bitcoin falls in Asian trading. The cryptocurrency was range-bound after the Fed kept rates unchanged, in line with market expectations, CoinMarketCap analyst Ray Salmond says. However, Strategy, the largest corporate holder of bitcoin, has signaled openness to increase U.S. dollar reserves, with proceeds from coming fundraising unlikely to go toward buying digital currency. That reinforces the view that a key source of bitcoin demand has effectively paused, Salmond adds. Meanwhile, efforts to advance U.S. crypto regulation bill Clarity Act, which is advocated by pro-crypto groups and Wall Street, appear to have stalled amid unresolved issues around ethics and consumer protection. Still, the analyst says the broader market structure for cryptocurrencies continues to improve. Bitcoin is down 1.0% at $62,814.37. ([email protected])