Bitcoin Faces Downfall Despite Fed’s Pause on Interest Hikes: What’s Next?

Bitcoin‘s (BTC) rise proved short-lived following the release of May’s Consumer Price Index (CPI) data, showing easing inflation at the core of the U.S. dollar. The largest cryptocurrency fell by over 4% after the U.S. Federal Reserve surprisingly paused the ceaseless interest rate hikes it’s been implementing since March 2022. With BTC struggling to stay above 25,000 dollars, let’s examine what’s next. Bitcoin’s Decline Despite Pause in Interest Rate Hikes At least 76% of economists at Dow Jones anticipated a pause in the Fed’s long-running interest rate hikes. Most believed this pause would bolster Bitcoin prices and the remainder of the crypto market. However, market analyst John Gilbert at the eToro trading platform suggests the Fed’s signal of potential future rate hikes has unnerved investors eyeing risky assets like BTC and altcoins. This signal indicates that the pause may only be temporary. Gilbert’s evaluation includes investors generating a positive sentiment […] The post Bitcoin Faces Downfall Despite Fed’s Pause on Interest Hikes: What’s Next? appeared first on COINTURK NEWS.