Trouble mounts for bitcoin and stocks as global benchmark for borrowing costs surges
Bitcoin and stock markets are facing increasing pressure as global borrowing costs rise, with the U.S. Federal Reserve signaling potential interest rate hikes. This surge in borrowing costs is impacting investor sentiment and leading to a sell-off in riskier assets, including cryptocurrencies. Bitcoin's price has experienced significant volatility, reflecting broader market concerns about economic stability. Analysts warn that continued increases in interest rates could further dampen demand for both stocks and cryptocurrencies. The situation underscores the interconnectedness of traditional financial markets and the crypto space.
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