Bitcoin falls 2% to $64,512.2 amid 16% monthly decline
Bitcoin took a 2% hit on Thursday, dropping to $64,512.2.
It's been a rough stretch, down 16% in the past month and almost 38% over the year.
The vibe across the crypto scene feels cautious lately, mostly because global tensions and economic uncertainty are making investors think twice.
Federal Reserve and geopolitics weigh Bitcoin
The US and Iran have agreed to extend their ceasefire in the Strait of Hormuz for another 60 days, which helps energy supplies for now. But ongoing disagreements about Iran's nuclear plans keep things shaky.
Meanwhile, the US Federal Reserve decided not to change interest rates this week, but hinted at possible hikes later this year since inflation is still high.
That's made assets like Bitcoin less appealing, especially with Treasury yields rising and the dollar getting stronger.
Even though Bitcoin has some support around $62,000 to $63,000, its outlook stays pretty cloudy for now.