🇺🇸 Fed raises interest rates and Bitcoin goes up: Why this matters
- The U.S. Federal Reserve (Fed) raised rates by 25 basis points for the first time in more than three years, initially causing the price of Bitcoin to drop but then rebound.
- The fact that the CLARITY Act was not passed led to strong volatility in Bitcoin; analysts believe that this legal obstacle has a greater impact than the Fed’s rate hikes.
- Future pressures on Bitcoin are likely to stem from inflation, jobs, and U.S. Treasury yields; the coin’s resilience will be tested if any of the above factors worsen.
Source: CryptoPotato
🌍 Updated by GemCrypto
$BTC
#Bitcoin #Crypto
- The U.S. Federal Reserve (Fed) raised rates by 25 basis points for the first time in more than three years, initially causing the price of Bitcoin to drop but then rebound.
- The fact that the CLARITY Act was not passed led to strong volatility in Bitcoin; analysts believe that this legal obstacle has a greater impact than the Fed’s rate hikes.
- Future pressures on Bitcoin are likely to stem from inflation, jobs, and U.S. Treasury yields; the coin’s resilience will be tested if any of the above factors worsen.
Source: CryptoPotato
🌍 Updated by GemCrypto
$BTC
#Bitcoin #Crypto
