Fed raised rates by 0.25%, taking the target range to 3.75%–4.00%. �
Reuters
The message was hawkish for crypto: inflation is still too high, so the Fed is willing to keep monetary policy tight.
16 of 18 policymakers reportedly see at least one more rate hike this year. The projected year-end rate is 4.00%–4.25%. �
Reuters
Warsh emphasized getting inflation back toward the 2% target more quickly, rather than prioritizing easier financial conditions. �
Reuters
That generally means less liquidity and higher yields, which can pressure Bitcoin and especially smaller/riskier altcoins.
However, crypto is currently being affected by another major factor: the Senate's failure to advance the CLARITY crypto bill yesterday. Bitcoin was around $75,900 today, near a four-week low. �
#FedRateWatch #ZcashRises6% @Bitcoin $BTC
