Last week, the Federal Reserve’s hawkish stance led to a significant drop in confidence among institutional investors, resulting in the largest outflows from crypto exchange-traded products (ETPs) since March. High interest rates, as indicated by the dot plot, are seen as detrimental to risk assets like cryptocurrencies and equities. Despite the market turbulence, MicroStrategy announced an increase in its raise to as much as $786 million to buy Bitcoin, while Bernstein raised its 2025 price target for Bitcoin to $200,000 from $150,000.
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