As of 6:47 p.m., the price of Bitcoin (BTC) stood at $27,475.06, showing a decrease of 0.44% in the past 24 hours. The market capitalization of BTC was $531,765,453,825.99. BTC’s price movement this year indicates a change of 65.94%. On Monday, BTC continued to consolidate below the $28,000 mark after falling below it on Friday. Sam Callahan, an analyst at Swan Bitcoin, referred to this drop as a healthy correction after an explosive surge past $30,000.
Investors are keeping an eye on next week’s Federal Open Market Committee meeting, with a 91% probability of the US central bank raising interest rates by 25 basis points, according to the CME FedWatch Tool.