Bitcoin tests levels below $25,000

On Monday, 11 September, Bitcoin’s price fell to $24,953 (on the Binance exchange). Over the last 24 hours the asset lost 2.8%, according to CoinGecko.

At the time of writing, the price remained above the $25,100 level. Following the flagship, assets from the top-10 by market capitalization moved into the red zone. The biggest drop was XRP — 4.8%.

Total cryptocurrency market capitalization fell by 2.6%. Bitcoin’s dominance index stands at 46.8%, ETH at 17.9%.

On Wednesday, September 13, the U.S. Bureau of Labor Statistics will publish CPI data. In August, Federal Reserve Chair Jerome Powell confirmed the Fed’s readiness to continue raising the policy rate if necessary, and Bitcoin reacted with volatility.

On August 31, the price of Bitcoin tested levels below $26,000, briefly dipping to $25,660. The negative reaction was linked to the actions of the SEC — the agency postponed a decision on applications to launch spot Bitcoin ETFs from BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie at least until mid-October.

Earlier, BitMEX co-founder Arthur Hayes allowed for a possible brief dip below $20,000 followed by a new bullish impulse. However in September he pointed to positive prospects for the leading cryptocurrency despite the Fed’s policy.

Earlier, the founder of Edelman Financial Engines, Rick Edelman predicted the rise in the price of digital gold to $150,000 by the summer of 2025.