Bitcoin Consolidates as Fed Rate Hike Expectations Rise
Bitcoin consolidated in early Asian trade. A hotter-than-expected U.S. CPI reading raised expectations for a Fed rate hike later this month, which may weigh on crypto risk appetite, XS.com's Antoni said.
At 2129 ET, Bitcoin is consolidating in early Asian trading. S. CPI reading has lifted expectations for a Fed rate hike later this month. com's Antoni… says higher rates can dampen risk appetite for cryptocurrencies and make yield-bearing assets more attractive.