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The Economic Times
The Economic Times
Business
Surbhi Khanna

Bitcoin slips below $80,000 after Kevin Warsh’s inflation vow

Kevin Warsh Bitcoin Inflation Crypto US Federal Reserve Prateek Gupta Riya Sehgal United States Ethereum ETF

Bitcoin slipped back below $80,000 on Friday after US Federal Reserve Chair Kevin Warsh pledged to bring inflation back to target, pushing short-term Treasury yields higher and cooling some of the week’s risk-on momentum.

Warsh’s comments also prompted traders to sharply raise their bets on a rate hike. The probability of a hike rose to 57%, from 30% before his speech in Wyoming, according to official CME FedWatch data.

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