First mover US: Bitcoin started falling below $27K in June

Bitcoin and the broader crypto market sold off for the second day in a row on Thursday as fear abated inflation and continued rate hike resurgence. The US House of Representatives passed the debt ceiling deal on Wednesday night and the bill now heads to the Senate for approval. Bitcoin fell 1% on the day to $26,800 and has fallen more than 6% over the past month. While new eurozone data showed inflation fell more than expected to 6.1% in May from 7% in April, Christine Lagarde, president of the European Central Bank, signaled that additional interest rate hikes are needed. “We need to continue our hiking cycle until we are sufficiently confident that inflation is on track to return to our target in time,” he said in a speech on Thursday.