IOTA logoCryptocurrency markets took a hit, with total market capitalization falling more than €XNUMX billion or XNUMX% on Friday after a higher-than-expected core US PCE inflation report heightened danger. of the US Federal Reserve raising interest rates to higher levels for longer. . MoM and YoY cost pressures spiked in January, according to the latest report, to XNUMX% and XNUMX% respectively.
Bitcoin last changed hands around €3, while Ethereum last flirted with a break below the €4 level. The latest US inflation data has prompted markets to increase their Fed tightening bets for this year, and money markets are now predicting almost XNUMX plus moves of XNUMX basis points over the next XNUMX months. .