Bitcoin Price Today: Slips Below $115K on Fed and Geopolitical Caution
Bitcoin fell below $115,000 on Tuesday, extending its retreat from last week’s record highs. Traders weighed potential Federal Reserve policy moves and geopolitical risks tied to Russia-Ukraine peace talks.
The world’s largest cryptocurrency was last down 0.3% at $114,990.7 as of 02:21 ET (06:21 GMT).
Bitcoin had surged above $124,000 last week, but stronger-than-expected U.S. producer and import price data revived inflation fears linked to tariffs, sparking the pullback.
Geopolitical Risks Hit Risk Appetite
Markets reacted to Monday’s White House summit, where U.S. President Donald Trump met Ukrainian President Volodymyr Zelenskiy and European leaders. Trump said he was arranging talks with both Moscow and Kyiv, with the possibility of a trilateral summit.
While Zelenskiy struck a cautious tone, no breakthrough was announced. The lack of progress increased geopolitical uncertainty, which weighed on risk-sensitive assets like cryptocurrencies.
Fed Policy Adds to Pressure
Attention now turns to the Federal Reserve’s Jackson Hole Symposium, where Fed Chair Jerome Powell will speak on Friday.
Markets are pricing in an 83% chance of a 25-basis-point rate cut in September, according to futures data. Hopes for a bigger cut have faded after hotter-than-expected U.S. producer prices dampened the case for aggressive easing.
The reduced expectations have added to the headwinds facing Bitcoin and crypto markets.
Altcoins Mixed as Traders Stay Cautious
Most altcoins traded in tight ranges as markets consolidated.
- Ethereum (ETH) slipped 0.3% to $4,230.60.
- XRP rose 1.5% to $3.017.
- Solana (SOL) fell 0.9%, while Cardano (ADA) gained 1.2%.
- Polygon (MATIC) jumped 5.6%, bucking the broader trend.
- Dogecoin (DOGE) dropped 2%, while $TRUMP token edged 0.2% higher.
