Bitcoin Price Dips Below $65K Amid Fed Interest Rate Concerns

Bitcoin's price slipped below $65,000 on Thursday after stronger-than-expected US jobless claims data reinforced concerns that the Federal Reserve could keep interest rates elevated.

The Bitcoin price traded at $64,384.27 at press time, marking a 0.69% decline over the previous 24 hours.

This pullback followed another unsuccessful attempt to break through the $64,800, $65,000 resistance zone, which buyers failed to secure a daily close above.

The rejection pushed Bitcoin toward $64,000, which has emerged as its nearest short-term support. Holding that level would keep the latest recovery structure intact, while a sustained break below it could expose the lower part of the range.

Bitcoin's sensitivity to US economic releases is due to stronger data reducing expectations for monetary easing and higher interest rates making yield-bearing assets more attractive relative to risk assets like cryptocurrencies.