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Bitcoin falls below 61k monthly support ahead of FED speech

Bitcoin is currently trading below its monthly support level of $61,160 as selling pressure is building up from traders. The drop started during European trading hours when Hong Kong's newly formed ETF numbers were revealed at just $11 million compared to $100 million expected.


The decline extended on US market open after a consumer confidence index produced its weakest reading in almost two years, while employment cost index data showed a 1.2% QoQ rise, up from 0.9% at the end of last year.


The S&P 500 was off 0.92% and the tech heavy Nasdaq Composite down 1,14% by mid-afternoon. Both are down 3.4% this month.

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