{"id":703630,"date":"2026-07-21T16:17:09","date_gmt":"2026-07-21T16:17:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/703630\/"},"modified":"2026-07-21T16:17:09","modified_gmt":"2026-07-21T16:17:09","slug":"live-markets-bitcoin-rises-to-five-week-high-above-66400-on-rising-hope-for-clarity-act","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/703630\/","title":{"rendered":"Live markets: Bitcoin rises to five-week high above $66,400 on rising hope for Clarity Act"},"content":{"rendered":"

It was a bit more than one month ago when the Federal Reserve, under new Chairman Kevin Warsh, shocked markets with its hawkish outlook.<\/p>\n

The news had traders fully expecting a rate hike at the Fed\u2019s July or September meeting and helped send bitcoin to a multi-year low around $58,000.<\/p>\n

In the weeks since, though, pleasing inflation news combined with mildly dovish language from Warsh himself and New York Fed President John Williams, had traders re-assessing expectations for imminent tightening.<\/p>\n

That\u2019s changed in the past few days. Without any official economic news or central bank chatter, interest rates have surged. The 10-year Treasury yield has risen to near a multi-year high of 4.63%, and the 2-year yield \u2014 most sensitive to the Fed\u2019s actual policy \u2014 has jumped to near a cycle high of 4.255%.<\/p>\n

Blame the re-ignition of the Iran war and its effect on the price of crude oil, which has surged back to almost $85 per barrel after falling to about $70 earlier this month.<\/p>\n

The odds<\/a> of a July rate hike have risen to 22% from 12% about a week ago, and the odds of one or more rate hikes by September have jumped to about 70% from 50%.<\/p>\n

Risk markets, for the moment, don\u2019t seem concerned with the prospect of tighter U.S. monetary policy. Bitcoin continues its rise, now more than 15% above the June low at $66,600.<\/p>\n","protected":false},"excerpt":{"rendered":"It was a bit more than one month ago when the Federal Reserve, under new Chairman Kevin Warsh,…\n","protected":false},"author":2,"featured_media":703631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,211347,56,54,55],"class_list":["post-703630","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-livenews","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/703630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=703630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/703630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/703631"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=703630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=703630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=703630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}