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Bitcoin and Other Cryptos Fall Sharply After Fed’s Hawkish Outlook
linkweb3
2023-06-15
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Summary：and other cryptocurrencies retreated Thursday after the Federal Reserve signaled higher interest rates ahead even after pausing its campaign of hikes this month. The Fed’s aggressive rate hikes since March of last year have undercut higher-risk assets such as cryptocurrencies. Hopes that the cycle had peaked, and that rate cuts may come into play in the foreseeable future, were effectively dashed by Fed Chairman Jerome Powell.
and other cryptocurrencies retreated Thursday after the Federal Reserve signaled higher interest rates ahead even after pausing its campaign of hikes this month. The Fed’s aggressive rate hikes since March of last year have undercut higher-risk assets such as cryptocurrencies. Hopes that the cycle had peaked, and that rate cuts may come into play in the foreseeable future, were effectively dashed by Fed Chairman Jerome Powell.
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