Bitcoin declined during the Asian trading session. CoinMarketCap analyst Ray Salmond said that after the Federal Reserve kept interest rates unchanged as expected by the market, the cryptocurrency fluctuated in a range. However, Bitcoin's largest corporate holder Strategy has hinted that it is open to increasing its dollar reserves, and the amount raised from the upcoming fundraising campaign is unlikely to be used to buy the digital currency. Salmond added that this signal reinforces the view that a key source of Bitcoin demand has actually been suspended. Meanwhile, efforts to advance the Clarity Act, the US cryptocurrency regulation bill, have stalled, apparently because issues surrounding ethics and consumer protection have not been resolved; the bill is being championed by pro-cryptocurrency groups and Wall Street. However, the analyst said that the broader market structure of cryptocurrencies continues to improve. Bitcoin recently dropped 1.0% to $62,814.37.

Bitcoin declined during the Asian trading session. CoinMarketCap analyst Ray Salmond said that after the Federal Reserve kept interest rates unchanged as expected by the market, the cryptocurrency fluctuated in a range. However, Bitcoin's largest corporate holder Strategy has hinted that it is open to increasing its dollar reserves, and the amount raised from the upcoming fundraising campaign is unlikely to be used to buy the digital currency. Salmond added that this signal reinforces the view that a key source of Bitcoin demand has actually been suspended. Meanwhile, efforts to advance the Clarity Act, the US cryptocurrency regulation bill, have stalled, apparently because issues surrounding ethics and consumer protection have not been resolved; the bill is being championed by pro-cryptocurrency groups and Wall Street. However, the analyst said that the broader market structure of cryptocurrencies continues to improve. Bitcoin recently dropped 1.0% to $62,814.37.