Bitcoin Falls Below $75,000 After Fed Rate Hold

Bitcoin fell below $75,000 on Wednesday after the Federal Reserve held interest rates steady in line with market expectations, marking a brief pullback from earlier weekly highs before a partial rebound that left it down more than 1 percent for the day.

The cryptocurrency traded sideways around $77,500 over the weekend before climbing toward $79,500 early Monday. Sellers quickly reversed those gains, pushing prices back to $76,500 and then below $76,000 on Tuesday, with a brief recovery near $78,000 ahead of the Federal Open Market Committee's third meeting of the month. Following the decision to maintain the federal funds rate unchanged, Bitcoin dipped to a multiday low just under $75,000, recovering about $1,000 to hover around $75,400 shortly after. Its market capitalization eased to $1.520 trillion, while dominance held steady at 58 percent.

The Federal Reserve's move came in a divided 8-4 vote, according to reports, with some officials dissenting on the inclusion of easing language amid elevated inflation linked to global energy prices and Middle East uncertainties. Although the pause was widely anticipated, traders appeared to sell the news, reflecting fatigue after the...