Bitcoin's Upward Momentum Weakens Amid Macroeconomic Factors

By: www.zaobao.com.sg|09/29/2026 07:16:46

Bitcoin has cooled off after several weeks of rapid gains due to macroeconomic uncertainties. U.S. President Trump’s rejection of Iran's proposal to reopen the Strait of Hormuz has heightened market risk sentiment. At the same time, the market is digesting the Federal Reserve's interest rate hike measures and preparing for another potential hike in October. Since August 19, Bitcoin has risen by 28%, poised for its best quarterly performance since the fourth quarter of 2024.

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