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Bitcoin (BTC) whipsawed around $64,000 on Wednesday as geopolitical and macroeconomic tensions pressured US stocks.
Key points:
- Bitcoin constricts near $64,000 as traders contend with multiple macro headwinds.
- Downside in Asian stocks continues to spill over into US markets.
- The US Federal Reserve prepares to release its next interest-rate decision, a potential risk-asset volatility catalyst.
Risk-asset hurdles pile up ahead of FOMC meeting
Data from TradingView showed BTC/USD halting a local rebound at the Wall Street open, having hit 11-day lows of $62,700 the day prior.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
These came as part of a risk-asset rout by a selloff in Asian chip-stocks. This trend continued on Wednesday as markets showed increasing concern over the debt obligations by semiconductor and AI giants.
Renewed nerves over escalation in the US-Iran war added to the headwinds, with US President Donald Trump…
