Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation report
CoinDesk·
60-second summary
Bitcoin and major cryptocurrencies are plummeting by 2% or more in 24 hours as traders aggressively bet on a July Fed rate hike, with implied probability surging to 64.5% from 43.4% earlier. This shift in sentiment is weighing heavily on the market, causing prices to drop as investors reassess their risk tolerance and adjust their portfolios accordingly.
Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.