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Why is Bitcoin price stuck below $75,000?

By Rony Roy

Bitcoin has struggled to reclaim $75,000 as continued withdrawals from US spot exchange-traded funds, weak buying demand and uncertainty over the Federal Reserve’s next interest rate decision have kept the cryptocurrency under pressure. According to CoinGecko data, Bitcoin was trading…

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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Interest rate

The price of borrowing money, expressed as a percentage of the amount borrowed. A central bank sets a benchmark rate that other rates follow.

It decides how much people pay on loans and mortgages and how much savers earn, and it is the main tool for fighting inflation.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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