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Bitcoin Price Today: Falls Below $68K as Altcoins Lag
Bitcoin fell on Wednesday, extending recent losses as caution ahead of key U.S. economic data and comments from the Federal Reserve kept investors largely risk-averse toward speculative assets such as cryptocurrencies.
The world’s largest cryptocurrency received limited support from disclosures of additional purchases by the largest corporate holder, Strategy (NASDAQ: MSTR). However, dip buyers remained cautious after Bitcoin plunged nearly 50% from its October record high.
Bitcoin fell nearly 1% to $67,746.6 as of 09:19 GMT.
Strategy Buys $168 Million Worth of Bitcoin
Strategy said on Tuesday it had acquired 2,486 Bitcoin for $168.4 million last week, bringing its total holdings to 717,131 coins. The average purchase price was $67,710 per coin, slightly below current market levels.
This marked Strategy’s third Bitcoin purchase in February, with the latest acquisition funded through additional share issuance.
Earlier this week, Strategy stated it could withstand a Bitcoin price drop to $8,000 while still meeting its debt obligations.
However, the remarks — following an extended Bitcoin downturn — drew criticism over shareholder dilution, particularly if the company continues issuing new shares to finance further purchases.
The company has become a key concern for Bitcoin investors amid fears that a sustained downturn could force it to sell part of its large holdings to meet debt commitments.
Crypto Prices Today: Altcoins Range-Bound Ahead of U.S. Data and Fed Minutes
Broader crypto markets traded in a narrow range on Wednesday, with most altcoins having posted significant losses in recent sessions as sector sentiment remained weak.
Caution increased ahead of several key U.S. economic indicators, while minutes from the January meeting of the Federal Reserve were expected later in the day.
Industrial production and trade data are due Wednesday and Thursday, respectively, while the PCE price index — the Fed’s preferred inflation gauge — is due Friday. These releases, along with the Fed minutes, will be closely watched for further signals on interest rates.
Crypto markets are sensitive to U.S. rate expectations given their speculative nature and reliance on looser monetary conditions. U.S. President Donald Trump’s nomination of Kevin Warsh as the next Fed chair triggered heavy losses in the sector earlier in February, as Warsh was viewed as a less dovish candidate.
On Wednesday, Ether — the world’s second-largest cryptocurrency — rose 1.1% to $2,003.20, while XRP gained 0.2% to $1.4814.
BNB, Solana, and Cardano each fell more than 1%.
Among meme tokens, Dogecoin rose 1.2%, while $TRUMP advanced 4.2%.
See also: "Bitcoin Falls Below $67,000 Amid Ongoing Decline in Tech Stocks"
