Bitcoin price falls after Fed shifts interest rate hikes forward amid inflation fears

Cointelegraph

Published Jun 16, 2021 05:34PM ET

Updated Jun 17, 2021 04:20AM ET

Bitcoin dropped closer to a key support level and the Dow and the S&P 500 pulled back after the Federal Reserve moved forward its plan for 2 interest rate hikes in 2023.

Bitcoin (BTC) price extended its losses shortly after Federal Reserve Chair Jerome Powell announced that the Fed would move forward its timeline and schedule two interest rate hikes in 2023.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
Bitcoin all exchanges inflow. Source: CryptoQuant
Bitcoin all miners outflow. Source: CryptoQuant

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