2023-08-18 13:36:04
© Archyde.com
Investing.com – fell on Thursday following minutes from the Federal Reserve’s latest meeting indicated that more rate increases may be needed in the future, weighing on risk sentiment.
At 06:53 ET (10:53 GMT), the favorite digital currency was down 2.13%, to $28,540. It had earlier fallen below $28,500, but it regained some of its losses to remain above that threshold.
Elsewhere, ether fell below the $1,800 mark, while smaller altcoins such as Solana also fell.
The record of the Fed’s July meeting showed that policymakers are divided on whether future borrowing cost increases are needed to curb inflation. However, the prospect of the Federal Reserve raising interest rates has sent the 10-year yield to a 10-month high, adding pressure on riskier assets such as stocks.
Policymakers are broadly inclined not to impose any additional rate hikes at the next Federal Reserve meeting in September. According to Investing.com’s Fed Rate Monitor Tool, there is an 88% chance that the US central bank will keep the federal funds rate steady in a range of 5.25% to 5.50%.
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