Bitcoin (BTC) loses 4% after surpassing $25k

While the Fed may raise its tone after the latest U.S. indicators, the price of BITCOIN is down nearly 4% over 24 hours to around $23,750.

The price of the market’s leading crypto fell heavily on Thursday evening after briefly flirting with $25,000.

Over 24 hours, the Bitcoin (BTC) price is tumbling 3.6% to $23,750. The entire crypto market is in the red. A few tokens, including Polygon, are holding their own, however. MATIC is indeed up almost 5% over 24 hours to $1.43.

Earlier this week, and despite regulatory pressure, Bitcoin had recorded a consistent rise and surpassed $24,500, a level the crypto queen had not reached since August 2022.

Several analysts point to reactions from Fed officials suggesting a tightening of the U.S. central bank’s monetary policy as casting a pall over the markets.

The Fed’s most hawkish policymakers have indicated that they may favor a return to higher interest rate hikes in the future.

The price of Bitcoin still remains up more than 40% since the beginning of the year.