Bitcoin Drops Even as Wall Street's 'Fear Gauge' Indicates Calm Ahead of Fed Decision

Bitcoin Drops Even as Wall Street's 'Fear Gauge' Indicates Calm Ahead of Fed Decision


And while cracks are appearing in the housing sector, the broader economy looks resilient, thanks to strong labor market and wage growth. The Kansas City Labor Market Conditions Index was at its highest since the late 1990s when it was last reported June 30. The Atlanta Fed’s wage growth tracker reached its highest since 1997 at end-June. The data provide the Fed with room to continue tightening, meaning the so-called hawkish Fed trade, which involves buying dollars and selling risk assets, could continue to roil markets, including cryptocurrencies.

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