bitcoin
Bitcoin Sinks to 12-Week Low Amid Fed Rate Hike Fears
Prices for Bitcoin have retreated close to the levels seen in August, driven by a confluence of factors including ongoing inflationary pressures, mounting anticipation of further increases in…
Prices for Bitcoin have retreated close to the levels seen in August, driven by a confluence of factors including ongoing inflationary pressures, mounting anticipation of further increases in interest rates, and notable outflows from exchange-traded funds.
The cryptocurrency has slipped toward its 12-week low, a downturn fueled by these macroeconomic concerns. Persistent inflation remains a significant headwind for the digital asset. Furthermore, the market is grappling with rising expectations that the Federal Reserve will implement another hike to its interest rates. Compounding these issues are withdrawals occurring from Bitcoin ETFs.
