Friday, June 21, 2024
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Here is why a 0.75% Fed rate hike could be bullish for Bitcoin and altcoins

The S&P 500 and the index suffered their worst weekly performance since June as investors remain concerned that the Federal Reserve will have to continue with its aggressive monetary policy to curb inflation and that could lead to a recession in the United States.

(BTC) remains closely correlated to the S&P 500 and is on track to fall more than 9% this week. If this correlation continues, it could bring more pain to the cryptocurrency markets because Goldman Sachs (NYSE:) strategist Sharon Bell cautioned that aggressive rate hikes could trigger a .

Crypto market data daily view. Source: Coin360