Bitcoin below $77,000, Zcash leads losses as traders bet on a Fed rate hike
Ninety-five of the CoinDesk 100 fell over the past 24 hours, and bitcoin has shed more than 5% on the week.
Source: CoinDesk
―
DW NOTE
The Fed is pricing a hike into a demand shock. Oil demand is falling 1.6 million barrels per day this year because fuel costs too much, global inventories are draining at 3 million barrels per day, and the Strait is still mined. Raising rates into that doesn't cool inflation — it amplifies the real income loss already happening at the pump.