Bitcoin rebound comes to a sticky end

There news of the Fed potentially raising rates a whole lot faster than many in the markets had previously envisaged has had an impact across all the markets, and none more so than in the Crypto space. Yesterday Bitcoin was on the up. The lead coin rose steadily all day and then initially spiked close to 39k after the Fed left all policy outcomes unchanged, as was expected. Bitcoin lifted to as high as 38,927. However, as US yields rose and risk evaporated, the price tumbled into the wider US market close. It fell back below 36,500 and it has extended that drop in Asia today. The price has fallen to as low as 35,548 so far. This is once again living proof that BTC is a risk asset that does not appreciate the prospect of higher rates and increased risk aversion, just in case any of you out there thinks otherwise. The range seen so far today has been covered by 35,548 to 37,110. It is currently trading at 35,965