Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation report

MarketsBitcoin slips as traders lift July Fed rate hike bets ahead of Inflation reportMajor cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.By Omkar Godbole Jul 14, 2026, 2:58 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowMajor cryptocurrencies have dropped by 2% or more in 24 hours as traders boosted bets of a July Fed rate hike.The two-year U.S. Treasury yield jumped to its highest level since early last year amid renewed upswing in oil prices and U.S.-Iran tensions.Investors are focused on Tuesday’s consumer-price index report and Fed Chair Kevin Warsh’s congressional testimony, which could clarify whether the central bank will follow through on a potential rate hike or ultimately hold steady and consider future cuts.Major cryptocurrencies have come under pressure, reflecting heightened expectations for a Federal Reserve interest-rate increase as soon as July, just ahead of key U.S. inflation data and congressional testimony from Chair Kevin Warsh.Bitcoin BTC$63,015.88 has dropped by over 2% in 24 hours to $62,380. Ether (ETH), XRP (XRP) and other tokens are also nursing similar losses, according to CoinDesk data.Money markets now assign roughly a 50% probability to a Fed rate hike this month, according to Bloomberg data, up sharply from about 10% just days ago. The shift follows remarks from Fed Governor Christopher Waller that officials may need to raise rates to bring price pressures under control.The repricing rippled through fixed-income markets, pushing the two-year U.S. Treasury yield to 4.29%, its highest level since early last year. That part of the yield curve is especially sensitive to shifts in near-term policy expectations.The renewed hawkish tilt stems in part from escalating U.S.-Iran tensions and a sharp climb in oil prices. President Donald Trump reinstated a U.S. blockade of Iranian vessels transiting t…

Bitcoin slips as traders lift July Fed rate hike bets ahead of Inflation report

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