Bitcoin faces short-term pressure from hawkish Fed policy and legislative gridlock, even as mining stocks like Cipher Mining buck the trend on positive energy infrastructure developments.
Bitcoin prices retreated Wednesday following the Federal Reserve's decision to raise interest rates. Market sentiment soured further after the Senate failed to advance the Digital Asset Market Clarity Act, creating a challenging environment for broader crypto assets.
Bitcoin prices fell due to the Federal Reserve's interest rate hike and the Senate's failure to advance the Digital Asset Market Clarity Act.
Mining stocks, led by Cipher Mining, trended higher due to positive reports regarding energy infrastructure.