Bitcoin Hit Hard by Looming Fed Hike and Regulatory Setbacks
Cryptocurrencies took another hit on Wednesday due to concerns about a looming interest-rate hike from the Federal Reserve. The US failed to advance a key regulatory bill, adding to industry woes.
Bitcoin stabilized at around $75,900 in early New York trading after falling as much as 5% in the previous session. This followed steep declines in the broader cryptocurrency market the day before.