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Bitcoin sinks as Fed begins taking inflation seriously

Bitcoin sinks as Fed begins taking inflation seriously


Seeking Alpha
2021-06-16 18:45:51

The Federal Reserve is backing away at least a little from its "transitory inflation" rhetoric, with Jay Powell opening his post-FOMC press conference by noting the risk that price increases could be more persistent than expected.That's sent stocks lower and bond yields higher. It's also taken a chunk out of the price of bitcoin (BTC-USD), now down 5.3% to $38.4K. Ethereum (ETH-USD) is down a similar amount. The Grayscale Bitcoin Trust ([[GBTC]] -5.8%).Follow Seeking Alpha's live coverage of today's FOMC meeting and Powell press conference.


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