Hawkish Fed comments push Bitcoin price and stocks lower again

[Magepai]

Bitcoin price drops a leg lower and stocks slump after St. Lous Federal Reserve President James Bullard signals that interest rates could rise by the end of this year. Bitcoin (BTC) and the wider financial markets faced a new wave of selling on June 18 following comments from James Bullard, the president of the United States Federal Reserve Bank of St. Louis, indicating that he expects the first interest rate increase to happen in late 2022. Bullard's comments were even more hawkish than Wednesday’s comments from Fed Chair Jerome Powell, who indicated that the rate hikes would come in 2023. Powell's comments triggered a sell-off across financial markets as the U.S. dollar gained strength.source