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Bitcoin slides with S&P 500 as Fed signals tapering $120B monthly bond purchases By Cointelegraph

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Bitcoin slides with S&P 500 as Fed signals tapering $120B monthly bond purchases

(BTC) prices briefly fell below $44,000 on Thursday as the United States Dollar strengthened after the U.S. Federal Reserve policy minutes revealed its intentions to limit its bond-purchasing program this year.

Bitcoin risks $45,000 becoming new resistance

The spot rate dropped 1.71% to a new week-to-date low of $43,955. The pair’s plunge appeared as a part of a technical correction that started after it had reached a three-month high of $48,176 on Saturday, following a 64.42% price rally.

Bitcoin daily price chart. Source: TradingView
daily chart highlighting an inverse head and shoulder setup. Source: TradingView
Long-term government bond yields are declining across developed economies. Source: FRED