Market Wrap: BTC Tumbles Further Ahead of Fed Meeting; Extreme Fear Among Traders

Market Wrap: BTC Tumbles Further Ahead of Fed Meeting; Extreme Fear Among Traders


This leaves traders fearing monetary tightening throughout the year with no break, as Atlanta Fed President Raphael Bostic suggested earlier this month, temporarily buoying crypto markets. Economists at Goldman Sachs (GS) now are forecasting 75 basis point rate hikes for both June and July, followed by a 50 basis point increase in September plus a 25 basis point hike in November and in December.

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