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Bond Traders Raise Bets for Fed Rate Hike, Adding to BTC Pressure



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Up until last week, economists predicted a 50 basis point rate increase, as happened in May. But a U.S. government report Friday showed the consumer price index, which tracks inflation, rose to a new high of 8.6% instead of an expected slowdown. Now, the central bank is entertaining the possibility of accelerating its rate hikes, according to the Wall Street Journal.



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