Bitcoin continues to plummet to 67K on the eve of the FOMC, with a net outflow of 64 million euros yesterday.
The Federal Open Market Committee (FOMC) meeting will be held on 6/12. In the eight meetings held annually, whether the Federal Reserve will finally agree to cut interest rates is the focus of the entire market. Due to the unfavorable employment rate last month for lowering inflation indicators, market expectations for a rate cut have once again been dashed.
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The Federal Open Market Committee (FOMC) of the United States will hold a meeting on 6/12. In the eight meetings held annually, whether the Federal Reserve will finally nod to a rate cut is the focus of the entire market. Due to last month's unfavorable employment rate for lowering the inflation index, the market once again saw its rate cut expectations dashed.
Employment report dampens rate cut expectations! U.S. stocks still near historical highs, while the crypto market sees a sharp decline.
After continuous net inflows since 5/13, ETFs saw a net outflow of 64 million euros on 6/10. The price of Bitcoin has been on a downward trend since reaching 71K on 6/7, standing at 67K at the time of writing.
