Bitcoin pressured by macro factors: oil above $100 and Fed rate hike expectations
- —Oil is trading above $100 per barrel
- —Bond yields remain at high levels
- —New inflation data raise the odds of a Fed rate hike
- —Analysts do not rule out a recovery if the macro backdrop eases
Why it matters: High rates and expensive oil reduce risk appetite, putting pressure on bitcoin and the crypto market as a whole.
Source: BTC-ECHO