Bitcoin's price slipped below the $80,000 mark amid a strengthening US dollar and the commencement of the Federal Reserve's policy meeting, according to CoinDesk. The crypto asset's decline highlights the growing influence of traditional financial factors on digital currencies.
Investing.com Forex noted that the pound also weakened in response to the firm US dollar ahead of the Federal Reserve meeting and the upcoming UK budget announcement. This broader dollar strength is impacting multiple asset classes, including cryptocurrencies and forex markets.
For Japanese investors, who often monitor US monetary policy for its impact on global markets, the Federal Reserve's decisions remain a key driver of volatility in both FX and crypto sectors.