Bitcoin rallies above $49K following Fed FOMC announcement of rate hikes in 2022
Bitcoin price action receives a welcome boost to $49,000 shortly after the Fed confirms rate hikes and a reduction of its bond purchasing policy in 2022. Bitcoin (BTC) climbed by over $2,000 on Dec. 15 as markets quickly reacted to news that the United States Federal Reserve would raise interest rates and curtail its bond-buying program starting in 2022.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Kind of what we were thinking"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $49,310 on Bitstamp, its highest since Dec. 12, when the price briefly....
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On Wednesday, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell held a press conference concerning the American economy, the central bank’s plans to address inflation, and the ongoing Russia-Ukraine war. Powell announced that the FOMC decided to increase the benchmark bank rate by a quarter percentage point and further noted the Fed anticipates “ongoing increases…will be appropriate.” Federal Reserve Increases Benchmark Bank Rate For the first time since the onset of the Covid-19 pandemic, the Federal Reserve announced that it increased the....
The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is....
The Bitcoin price has been moving sideways over the past two days, but market participants expect volatility over today’s trading session. The U.S. Federal Reserve (Fed) will announce another interest rate hike during its Federal Open Market Committee (FOMC) meeting. Related Reading: Litecoin Recovery To End Ongoing Crypto Darkness? LTCUSD November 2, 2022 At the time of writing, the Bitcoin price trades at $20,400 with sideways movement in the last 24 hours and a 2% profit over the previous seven days. In general, the crypto market is moving with the same sentiment except for Dogecoin....
Concerns that Bitcoin may have already topped come as volatility is expected around the Fed rate hike decision and comments. Bitcoin (BTC) begins a key week of internal and macroeconomic events still trading above $20,000.After its highest weekly close since mid-September, BTC/USD remains tied to higher levels within a macro trading range.Bulls have been keen to shift the trend entirely, while warnings from more conservative market participants continue to call for macro lows to enter next.So far, a tug-of-war between the two parties is what has characterized BTC price action, and any....
Bitcoin was trading below $19,000 on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes. In the minutes, the Federal Reserve hinted at upcoming hikes, while also acknowledging a level of surprise at the rate at which inflation has risen. Ethereum moved below $1,300 in today’s session.
Bitcoin
Bitcoin (BTC) was back in the red on Thursday, as markets reacted to the latest Federal Open Market Committee (FOMC) minutes.
September’s minutes showed that the U.S. Federal Reserve was relatively surprised at the rate at which....