Global X 21Shares Bitcoin ETF is trading 3.2% lower at $8.71 as broader Bitcoin markets face pressure following the Federal Reserve's latest policy update.
- The ETF, which tracks the price of Bitcoin in AUD, dropped from its previous close of $9.00 amid a wider sell-off in risk assets.
- While the Fed held interest rates at 3.50%-3.75%, the central bank signaled a potential further hike and officially ended its forward guidance.
- This hawkish shift has increased macro stress on the cryptocurrency sector, contributing to the current softness in Bitcoin prices.