Bitcoin dips under $63K on rate concerns

Bitcoin prices dropped below $63,000, amid ongoing concerns about US interest rates remaining high for an extended period, and a decline in investments in Bitcoin exchange-traded funds. The digital currency traded around $62,800 amid cautiousness in financial markets following a wave of declines in technology and semiconductor stocks. Markets are awaiting the US Personal Consumption Expenditures (PCE) index data to determine the Federal Reserve's monetary policy trajectory.

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