Bitcoin narrowly misses a breakout above $40,000 as traders ramp up Fed rate hike bets. reports godbole17
Bitcoin dropped and U.S. stock futures nursed losses as interest rate derivative traders expect that the U.S. Federal Reserve could raise rates seven times this year and the tightening cycle would peak at a level higher than previously anticipated.
The futures tied to the tech-heavy Nasdaq 100 index traded 0.5% lower, signaling a continued risk aversion. On Monday, the index fell 2%, leading the S&P 500 and Dow Jones lower as investors rotated money into value stocks from growth stocks ahead of an impending Fed rate hike on Wednesday.
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