Evaporating US Bitcoin ETF Demand Sends Token to a Two-Week Low
- Investors also fret over risk of fewer Fed rate reductions
- Bitcoin fell almost every day since scaling record last week
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Bitcoin sank to a two-week low before paring losses as demand for dedicated US exchange-traded funds dries up and investors question the Federal Reserve’s scope to lower interest rates quickly.
The digital asset has declined almost every day since hitting a record high just shy of $73,798 on March 14, stoking questions about whether the cryptocurrency has peaked for the time being. Bitcoin fell as much as 4.6% before trading little changed at around $63,350 on Wednesday.