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Bitcoin Slips to 3-Week Low as Market Sees Federal Reserve Lifting Rates to 5.65%

The fed funds futures show traders pricing in a higher-for-longer interest rates mantra by the Fed.

Marked-implied forecast for terminal rates as per the fed funds futures (TradingView/CoinDesk)
Marked-implied forecast for terminal rates as per the fed funds futures (TradingView/CoinDesk)