Bitcoin Sinks Below $27K as Fed, Powell Keep Focus on Inflation

Still, a number of analysts were optimistic about bitcoin’s price in the near future, given the bank sector’s calamities. “ Bitcoin ( $62,998.00 ) , straddling between being the leading risk-on asset and a financial lifeboat in the event of an all-out banking crisis, has benefitted from the recent turmoil and now the prospect that the Fed’s tightening could be over,” James Lavish, managing partner at Bitcoin ( $62,998.00 ) Opportunity Fund, told CoinDesk in an email.