Rate Hike Looms: Will It Crush Bitcoin's Price?

A recent strong US jobs report and hawkish Federal Reserve commentary have raised the odds of a near-term rate hike, increasing macro risk for crypto markets.

BTC's price reacted to these developments with a minor dip before recovering some losses. However, an actual rate increase could put stronger downward pressure on Bitcoin and broader markets, affecting DeFi activity and CEX/DEX trading volumes.

The odds of a rate hike have grown significantly over the past week, from just seven days ago.