๐ข US Fed Officially Raises Interest Rate
The main economic expectation of the week has been confirmed. Last night, the Federal Reserve unanimously voted to raise the benchmark interest rate by 25 basis points to a target range of 3.75% โ 4.00%.
This is the first rate hike under the new Fed Chair Kevin Warsh, and the first increase overall in the last three years.
The regulator took this step to curb stubborn inflation fueled by rising energy prices.
๐ช Crypto Market Reaction: Drawdown and Liquidations
The double blowโthe Fed rate hike and the stalling of the CLARITY Actโhas put heavy pressure on digital assets.
Bitcoin (BTC) momentarily dropped to the $75,500 mark but recovered slightly by this morning, attempting to consolidate in the $76,000 โ $77,000 range.
Ethereum (ETH) also experienced a downturn and is currently trading in the $2,400 โ $2,500 corridor.
During the sharp market swings, hundreds of millions of dollars in traders' margin positions were forcibly closed (liquidated), hitting both longs and shorts.
๐๏ธ Industry Outraged Over CLARITY Act Blockage
The crypto community continues to digest the stalling of the highly anticipated bill in the US Senate. Galaxy Digital CEO Mike Novogratz harshly criticized the event, calling it a massive step backward for the entire American industry. The market spent about 18 months working with politicians, but due to disagreements between Democrats and Republicans over ethical restrictions (including those concerning President Trump and his family), the establishment of transparent rules of the game has been delayed indefinitely.
#BTC #ETH #FedRateWatch #FOMC #CLARITYAct $BTC $ETH $TRUMP
The main economic expectation of the week has been confirmed. Last night, the Federal Reserve unanimously voted to raise the benchmark interest rate by 25 basis points to a target range of 3.75% โ 4.00%.
This is the first rate hike under the new Fed Chair Kevin Warsh, and the first increase overall in the last three years.
The regulator took this step to curb stubborn inflation fueled by rising energy prices.
๐ช Crypto Market Reaction: Drawdown and Liquidations
The double blowโthe Fed rate hike and the stalling of the CLARITY Actโhas put heavy pressure on digital assets.
Bitcoin (BTC) momentarily dropped to the $75,500 mark but recovered slightly by this morning, attempting to consolidate in the $76,000 โ $77,000 range.
Ethereum (ETH) also experienced a downturn and is currently trading in the $2,400 โ $2,500 corridor.
During the sharp market swings, hundreds of millions of dollars in traders' margin positions were forcibly closed (liquidated), hitting both longs and shorts.
๐๏ธ Industry Outraged Over CLARITY Act Blockage
The crypto community continues to digest the stalling of the highly anticipated bill in the US Senate. Galaxy Digital CEO Mike Novogratz harshly criticized the event, calling it a massive step backward for the entire American industry. The market spent about 18 months working with politicians, but due to disagreements between Democrats and Republicans over ethical restrictions (including those concerning President Trump and his family), the establishment of transparent rules of the game has been delayed indefinitely.
#BTC #ETH #FedRateWatch #FOMC #CLARITYAct $BTC $ETH $TRUMP