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Looming ‘death cross’ may put Bitcoin bull run in danger ahead of Fed meeting

Published 06/16/2021, 09:42 AM
Updated 06/16/2021, 11:20 AM
Looming ‘death cross’ may put Bitcoin bull run in danger ahead of Fed meeting
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US10YT=X
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Bitcoin (BTC) wobbled around $40,000 as investors waited for the United States Federal Reserve to release its new set of economic projections on Wednesday.

The market's focus shifted to two important questions: Will United States central bank officials signal their intentions to raise interest rates in 2023 instead of 2024? And how much do they think inflation will rise in the remainder of 2021 and in the next year?

Faster growth and inflation prospects make a rate hike move more likely in 2023. Source: Bloomberg
Bitcoin (orange), U.S. dollar index (blue) and 10-year Treasury yield performance in 2020 and 2021. Source: TradingView
Bitcoin hints at bearish continuation on death cross fears. Source: TradingView

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