Bitcoin Falls to $19k as Federal Reserve Announces 75 BPS Rate Hike
Published on Sep 21, 2022
https://cb.run/aNT7 Bitcoin Falls to $19k as Federal Reserve Announces 75 BPS Rate HikeFollowing a two-day Federal Open Markets Committee (FOMC) meeting, the Federal Reserve has risen its benchmark interest rate by another 75 BPS. Bitcoin’s price reacted erratically to the news, dropping by $1000 mere moments after the announcement. The hike, revealed at 18:00 UST on Wednesday, takes the central bank’s new policy rate up between 3.0% to 3.5%. Most investors expected a 75-point rise heading into the meeting, but markets had priced in a roughly 15% chance of a full percentage point rate increase. Merely 1 minute after the announcement, Bitcoin fell from roughly $19,700 to $18,700. It’s since recovered to...
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