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Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points Samuel Wan · 1 year ago · 1 min read
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Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points

The Fed announces a 50 bps hike, Bitcoin sinks to $17,762 in response to the news.

Samuel Wan
Dec. 14, 2022 at 7:23 pm UTC
1 min read
Updated: Aug. 20, 2023 at 9:32 am UTC
Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

The Fed raised interest rates by 50 basis points (bps) following the Dec. 14 Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.25-4.5%.

Bitcoin reacted with an immediate 3.2% swing to the downside, bottoming out at $17,762 on the 19:00 (UTC) 5-minute candle.

Bitcoin chart
Source: BTCUSDT on TradingView.com
Posted In: , , Macro
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Samuel Wan

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