The Fed announces a 50 bps hike, Bitcoin sinks to $17,762 in response to the news.
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.
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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