Federal Reserve Hikes Interest Rates with a 75-Bp Increase, Bitcoin Remains Bearish

The US Federal Reserve on Wednesday announced a 0.75 percentage point interest rate increase as part of efforts to clamp down rising inflation without creating a recession.

The latest interest rate rise by the Fed follows a similar hike in June – aggressive hikes that have so far put pressure on markets, including cryptocurrencies like Bitcoin (BTC). This is the fourth time the central bank has increased interest rates this year.
The price of Bitcoin increased 3.6% in the hour after Fed Chair Powell announced another big interest-rate raise.
Although crypto prices rose slightly following the Fed’s announcement, the markets are expected …
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