Bitcoin fell below $66,000 on Wednesday, pressured by hawkish Federal Reserve minutes suggesting potential rate hikes. The cryptocurrency dropped 2.5% in 24 hours, trading at $66,200 after reaching $68,500 overnight. This decline marks Bitcoin's fifth consecutive week of losses, reminiscent of the 2022 bear market.
Crypto stocks mirrored Bitcoin's downturn, with Coinbase reversing a 3% morning gain to a 2% loss, and MicroStrategy falling 3%. The U.S. dollar strengthened, with the dollar index reaching a two-week high, further weighing on risk assets. Bitcoin now faces a critical support test at $66,000, with potential further declines if this level fails to hold.
Bitcoin Falls Below $66,000 as Fed Minutes Hint at Rate Hike
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