Bitcoin Prices Dip Ahead of Fed Decision Amid Strong Institutional Interest

Bitcoin prices dipped slightly to around $65,847 due to a slight 0.3% drop as investors await the Federal Reserve's decision to keep interest rates steady under new chair Kevin Warsh.

The preliminary US-Iran peace deal eased oil prices and supported risk appetite for Bitcoin, which has recovered from earlier lows below $60,000.

BlackRock revealed that it has $9 trillion in idle cash ready to enter markets and plans to launch a new Bitcoin ETF (ticker BITA) within a week, signaling strong institutional interest in the cryptocurrency.