Interest rate hike bets boost the dollar, causing Bitcoin to fall.

With expectations of the Fed raising interest rates this year boosting the US dollar, Bitcoin fell. The Fed kept rates unchanged as expected on Wednesday, but its forecasts suggest the prospect of a rate hike before the end of the year. The new Fed chairman Kevin Wash also stated that policymakers are committed to reducing inflation. The possibility of rising interest rates offset the positive impact of the US-Iran peace agreement on cryptocurrencies as risk assets. According to data from the London Stock Exchange Group, Bitcoin fell by 0.5% to $62,732.