Bitcoin Falls Below $40K for First Time Since Mid-March – CoinDesk

President Joe Biden’s administration on Monday was already warning that the Consumer Price Index report for March, due out early Tuesday, would reveal inflation rising at an “extraordinarily elevated” pace.

Now traders are assessing the potential impact of the balance sheet reduction – referred to as “quantitative tightening” – along with multiple interest-rate hikes of 50 basis points each, according to Lucas Outumuro, head of research at IntoTheBlock.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.

…Read the full story