![ECB Rate hike verdict is 50bps, Bitcoin stands firm just below $25k](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/macro-insight.jpg&w=70&h=37&q=75)
Quick Take
- The ECB raised the deposit facility rate by 50 bps to 3%.
- Before the collapse of SVB and the fallout of Credit Suisse, markets were expecting a 50bps rate hike from the ECB; however, moments before the decision, markets saw a 35% probability of a 50bps hike.
![ECB Deposit Rate: (Source: Fred)](https://cryptoslate.com/wp-content/uploads/2023/03/ECB.png)
![Currencies: (Source: Trading View)](https://cryptoslate.com/wp-content/uploads/2023/03/BTCUSD-1.png)