Bitcoin breaches $40,000 for the first since June, USD declined ahead of Fed's meeting

Bitcoin traded above $40,000 overnight but soon descended to $36,955 on Tuesday morning. Despite the quick decline, it was the first time since June that it breached $40,000. Recent news has disclosed that Amazon is hiring a specialist in Blockchain. This has indicated the growing significance of cryptocurrencies. Rumors are that Amazon will also begin to accept Bitcoin payments by year-end.

On the other hand, USD slipped ahead of Fed’s meeting. The DXY Index dropped slightly by 0.04%, currently trading around 92.608. It has previously gained 4% on May 25th as the Fed signaled the outlook on tapering asset purchases. Currently, despite the decline, USD is still around its multi-month high.