Bitcoin Falls to the $62,000 Range as Rate Hike Fears Loom [Crypto Briefing]

[Financial News] Bitcoin fell to the $62,000 range on the 19th as investors braced for a possible interest rate hike by the Federal Reserve.
According to CoinMarketCap, Bitcoin was trading in the $62,000 range as of 10 a.m., down 2.33% from the previous day on a 24-hour basis. Over the past week, Bitcoin has risen 1.07%.
Bitcoin is trading around 95 million won in the Korean market. Based on Cryprice, the Korea premium stood at -2.01%.
Bitcoin had climbed to the $67,000 range on the 16th amid hopes for an end to the conflict between the United States and Iran, but it later fell back to the $62,000 range. The decline came after the Federal Reserve held its first Federal Open Market Committee (FOMC) meeting on the 17th local time and signaled one rate hike within this year.
Concerns that DAT Strategy, the largest corporate holder of Bitcoin, could move to sell its holdings also weighed on the market. The preferred stock 'STRC,' which the company has recently used to raise funds for Bitcoin purchases, has been falling below face value. If STRC trades below par, DAT Strategy would effectively have to raise capital at a loss, increasing pressure to sell Bitcoin.
The Crypto Fear and Greed Index provided by CoinMarketCap stood at 20 on the day, indicating 'fear.' The index ranges from 0 to 100, with values closer to 0 interpreted as 'extreme fear' and those closer to 100 as 'extreme greed.'
At the same time, Ethereum was trading in the $1,711 range, down 2.26% from the previous day. Ripple was trading in the $1.14 range, down 3.35%.

yimsh0214@fnnews.com Lim Sang-hyeok Reporter