Oil Outperforms Bitcoin and Gold Ahead of Fed Meeting
- —Brent +2.75% to $107.48, WTI +2.51% to $102.56
- —Crypto market cap -4.32% in 24 hours to $2.62 trillion
- —BTC -4.4% over the week to about $76,718, ETH -1.79% to $2,478
- —Probability of a Fed rate hike rose to 86.3% from 59.4% a week earlier
Why it matters: Wednesday's Fed decision will set the direction for the crypto market: tighter policy weighs on risk assets, while the oil shock amplifies inflation risks.
Source: BeInCrypto CN