Bitcoin remains sluggish amid geopolitical uncertainty and US rate hike bets

The Gulf kingdom of Kuwait was hit by a barrage of ballistic missiles and drones on Wednesday. Meanwhile, stronger-than-expected U.S. ADP private sector employment numbers and data from the Institute for Supply Management's services sector boosted expectations that the Federal Reserve may raise interest rates. Zaye Capital Markets analyst Naeem Aslam stated in a report that the U.S. actions targeting crypto exchanges with links to Iran also indicate that digital assets are coming under increased regulation and scrutiny and are becoming more politically sensitive. According to data from the London Stock Exchange Group, Bitcoin fell 1.2% to $64,126, having hit an overnight low of $61,344.