Bitcoin (BTC) Price Tumbles Below $59K Amid Inflation Worry, SEC Lawsuit
Recent hot Consumer Price Index (CPI) numbers and a spike in oil prices due to tensions in the Middle East have sparked concerns that the Federal Reserve may not cut interest rates as much as previously anticipated, according to Quinn Thompson, founder of hedge fund Lekker Capital.
Thompson expressed these sentiments in a Telegram message, stating, “Mix in [Atlanta Fed President] Bostic’s hawkish comments today regarding a potential pause and that’s the tinder to run the levered traders’ stops.”
This combination of factors has led to uncertainty in the market, with investors and traders keeping a close eye on any developments that could influence the Fed’s decision-making process.
As the situation continues to unfold, market participants are bracing for potential shifts in monetary policy that could impact various sectors and asset classes.
