Bitcoin Tumbles as US Interest Rate Outlook Shifts

Bitcoin's price fell sharply, dropping more than 9% in a significant market sell-off. The decline pushed the value of the leading cryptocurrency below $84,000. The drop follows changing expectations for interest rate cuts from the U.S. Federal Reserve. Investors are now less optimistic that the central bank will lower rates soon. Higher interest rates typically make risky assets, like cryptocurrencies, less attractive to investors. As hopes for cheaper money fade, market sentiment has shifted, leading to the pullback in Bitcoin's price.