Bitcoin fell on Wednesday, extending recent losses as persistent concerns about high US interest rates and declining investor interest kept cryptocurrency markets mostly on the defensive.

The world's largest cryptocurrency lost 1.5% to $61,542.2 by 16:50.
The sharp drop in technology and chipmaker stocks this week kept investors wary of risky assets, leaving cryptocurrencies with virtually no buying interest, even as investors fled rapidly growing tech stocks.
Markets remained on edge about higher US interest rates for longer after 'hawkish' signals from the Federal Reserve meeting last week. PCE price index data due this week is expected to provide further guidance.
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Bitcoin is treading water; ETF outflows continue
Bitcoin traded in a narrow range last week, staying just above yearly lows amid a lack of positive signals for crypto markets.
Pressure on cryptocurrency prices also came from ongoing capital outflows from spot ETFs, which have continued for seven consecutive weeks.
Although the pace of outflows has slowed in recent weeks, it has shown little sign of turning into inflows.
AI-related assets, particularly stocks, have seen increased investor attention in recent weeks, drawing capital away from cryptocurrencies into sectors with clearer fundamentals.
The CLARITY Act is a key catalyst for Coinbase, BofA says
Bank of America reiterated its 'Buy' rating on Coinbase Global Inc (NASDAQ:COIN), stating that upcoming US cryptocurrency legislation could be a major catalyst for the exchange operator.