Bitcoin lost momentum after a sharp rise — what are the forecasts for the cryptocurrency

Bitcoin continued to lose momentum on September 28, cooling off after its rapid rise in recent weeks. This came as a new surge in macroeconomic uncertainty put pressure on risk assets. UNN reports, citing Bloomberg.

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The original cryptocurrency fell 2.3% to $82,568 before partially recovering its losses. At the start of morning trading in New York, it remained below $83,000.

Other digital assets also declined: Ether, the second-largest token, fell 1.9%, while Solana dropped 3.9%.

The macroeconomic environment is putting pressure on cryptocurrencies. Cryptocurrencies fell along with stocks and bonds after U.S. President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, while oil continued its rise.

Brent crude rose to $105.70 after Trump rejected Iran’s proposal regarding the Strait of Hormuz28.09.26, 06:34 • 12494 views

These moves come as markets are also assessing the decision by the U.S. Federal Reserve earlier this month to raise interest rates, while traders are beginning to assess the likelihood of another hike in October.

The correction followed a rally at the beginning of last week that briefly pushed bitcoin above $87,000, its highest level since January. Institutional demand also increased, and exchange-traded funds investing in bitcoin attracted their largest weekly net inflow since the token reached a record high above $126,000 in October last year.