1205 GMT - Bitcoin remains under pressure after reaching a 21-month low overnight. Expectations that the Federal Reserve could raise interest rates are contributing to the cryptocurrency's weakness. Sentiment also isn't helped by news that crypto-hoarding company Strategy could sell bitcoin to raise more cash, Trade Nation's David Morrison says in a note. "This was something that company founder, Michael Saylor, said would never happen." Investors seem to be moving out of cryptocurrencies and piling into semiconductor stocks and anything related to AI, he says. Bitcoin drops 0.2% to $58,536, having dropped as low as $57,775 overnight, LSEG data show. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
July 01, 2026 08:05 ET (12:05 GMT)
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