Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation report
Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.
Make preferred on
Share this article
Summary
- Major cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.
- The two-year U.S. Treasury yield jumped to its highest level since early last year amid renewed upswing in oil prices and U.S.-Iran tensions.
- Investors are focused on Tuesday’s consumer-price index report and Fed Chair Kevin Warsh’s congressional testimony, which could clarify whether the central bank will follow through on a potential rate hike or ultimately hold steady and consider future cuts.
