Bitcoin Falls as Fed Rate-Cut Hopes Cool

Bitcoin fell during Asian trading hours. According to Sina Finance, Novaque Research analysts said cooling expectations for Federal Reserve rate cuts and ongoing concerns about U.S. inflation continued to weigh on demand for crypto assets.Bitcoin may face further selling pressure as more leveraged traders bet on long-term gains while new bitcoin supply enters the market, Novaque added. If prices fail to rise, those traders could be forced to de-risk, which may trigger another wave of selling. Bitcoin fell 0.2% to $64,253.50.