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.
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 is a strong believer in individual autonomy and personal freedom. He is a relative newcomer to the world of cryptocurrency, having first bought Bitcoin in early 2017, but keen to make up for the lost time.
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Recent FOMC Stories
Research: Bitcoin price expected to jump on hopes FOMC rate schedule tops outSamuel Wan and James Van Straten · 2 months ago · 3 min read
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