Bitcoin Trades Near $78,000 Ahead of Expected Fed Rate Hike

Bitcoin has seen an increase in value, trading near $77,800 and up around 1.2% on the day.

This comes as investors face a tougher macro backdrop and rising expectations of another US interest-rate increase.

The cryptocurrency outperformed weakening technology shares, with Bitcoin gaining while AI-linked stocks came under pressure after industry leaders renewed calls for slower development.

Brent crude above $107 a barrel has added to inflation concerns, reinforcing expectations that the Federal Reserve could tighten policy again this week.