Fed Rate Hike Odds Hit 71%, Bitcoin and Stocks Face Pressure

The Federal Reserve's interest rate hike odds have surged to 71%, driven by rising oil prices and Treasury yields, which are fueling concerns about inflation.

This increase in rates is expected to put pressure on Bitcoin and stocks, potentially triggering a risk-off sentiment that could hurt their recent gains.

The guidance of the Fed may be more significant than the rate hike itself, as a hawkish outlook could lead to increased volatility in the crypto market.