Bitcoin falls to 21-month low on Strategy, rate-hike fears

Bitcoin dropped 1.5% to $57,742 in Asia trade, its lowest level since September 17, 2024, driven by hawkish US Federal Reserve comments that lifted rate-hike expectations and strengthened the dollar. Investors pulled more than $4 billion from US-listed Bitcoin ETFs in June, the most since launch, while concerns grew that Strategy Inc. may no longer be a consistent Bitcoin buyer after gaining flexibility to sell holdings. Bitcoin has now fallen more than 50% from its record high above $126,000 in October last year and is trading below its 200-week moving average.