Fed Rate Hikes Loom as BlackRock Deploys Crypto Billions

Bank of America is predicting that the Federal Reserve will raise interest rates once each in September, October, and December this year, totaling 75 basis points. This prediction comes as BlackRock's ETF address has deposited a significant amount of cryptocurrency to an exchange, with a total value of about $93.36 million.

The deposits include 1,241 BTC and 7,547 ETH, which is a substantial sum in the cryptocurrency market. Meanwhile, Iran has made progress in negotiations with the US, with the Strait of Hormuz reopened and inspectors' visits agreed upon. The US Treasury Secretary has also issued a temporary general license allowing Iranian oil production and sales.

In other news, the investment firm Strive has purchased $50 million worth of Bitcoin, while Strategy added $35 million in Bitcoin last week and increased cash reserves by $300 million. Goldman Sachs has also lowered its probability of a US recession in the next 12 months from 25% to 15%.