IMF global outlook suggests dark clouds ahead for crypto

The IMF’s July update on the World Economic Outlook titled “Gloomy and More Uncertain” points to “higher-than-expected inflation,” and a contraction of global output as indicators of incoming poor economic growth. The report states in succinct terms that there are likely economic slowdowns ahead.Macro factors have been linked to the crypto bear market. Crypto investors are also bracing for a rise in interest rates in the United States this week. Bloomberg reported on July 26 that the Fed is expected to raise rates by as much as 75 basis points, or 0.75%, up to 2.25% in an attempt to tighten its monetary policy and stump inflation.