Crypto assets face intraday pressure as 69% of analysts anticipate a Fed rate hike, while Brent oil surges 8.43% in five days on Iran conflict concerns.
Bitcoin opened at its lowest level in about two weeks, down 2.2% from Thursday, pressured by expectations of a rate increase next week.
Ethereum opened 1.2% lower than Thursday, tracking Bitcoin's decline amid higher rate expectations.
Brent futures have climbed more than 16% over the past month and 8.43% in the last five days due to the ongoing war in Iran.
Bitcoin and Ethereum opened lower on Friday as investors brace for a potential interest rate increase next week. Market sentiment remains pressured by hawkish expectations, with Bitcoin hitting a two-week low. Meanwhile, Brent crude futures continue to rally, climbing over 16% in the past month amid escalating geopolitical tensions in Iran.
Crypto prices are sagging due to rising expectations of a Federal Reserve interest rate hike next week, which creates a headwind for assets that do not pay interest.