First Mover Asia: Bitcoin Hits 3-Week Low, Lingers Near $21.7K Amid Ongoing Inflation Concerns

“After celebrating disinflation greenshoots the past two months, the Federal Reserve has had to restart its hawkish positioning by talking tough on rate hikes, I think it’s interesting to note that they were parading their hikes as having a substantial impact on inflation, and then it became clear that inflation has proved to be more stubborn than had been anticipated. Quinn Thompson, head of growth and capital markets at blockchain-powered capital markets platform Maple, wrote CoinDesk in an email. „A 50-basis-point rate hike is basically inevitable now.“