Bitcoin Breakout Elusive as Traders Price in 7 Fed Rate Hikes For 2022

The renewed hawkish repricing aligns with investment banking giant Goldman Sachs' forecast. It suggests bleak near-term prospects for risk assets, including bitcoin, more so, as traders see interest rate peaking around 2.57% in the second half of 2023 – up 50 basis points in one week and 100 basis points this year, according to Reuters.