Bitcoin and Major Cryptos Fall Over 2% as Fed July Rate Hike Bets Rise

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Bitcoin and other major cryptocurrencies declined by more than 2% within a 24-hour period. The sell-off came as traders increased their expectations of a Federal Reserve interest rate hike in July. Rising rate hike bets typically pressure risk assets like cryptocurrencies, as higher borrowing costs reduce appetite for speculative investments. The market movement occurred ahead of an anticipated inflation report, which traders expect may influence the Fed's next policy decision.

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