Stock Track | BOS HSK BTC Plunges 5.09% as Bitcoin Prices Tumble on Fed's Inflation Worries

Stock Track12-20 09:42

BOS HSK BTC, a Bitcoin-linked stock, experienced a significant plummet of 5.09% in the intraday trading session on Friday, December 20, 2024. This decline can be attributed to the Federal Reserve's updated outlook on interest rates and inflation, which triggered a broader selloff in the crypto market.

According to Wall Street Journal reports, major U.S. stock indexes stabilized on Thursday after the Federal Reserve penciled in just two rate cuts for 2025, dashing investors' expectations for more aggressive easing. Officials also indicated that inflation is likely to be stickier than previously expected, fueling concerns about the potential for further rate hikes.

In response to these developments, Bitcoin, the world's largest cryptocurrency, dipped below $100,000 on Thursday. The selloff in Bitcoin, which is seen as a potential hedge against inflation, had a ripple effect on related stocks like BOS HSK BTC, causing their prices to tumble.

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