https://sputnikglobe.com/20221215/bitcoin-drops-amid-feds-decision-to-increase-interest-rate-1105484634.html
Bitcoin Drops Amid Fed's Decision to Increase Interest Rate
Bitcoin Drops Amid Fed's Decision to Increase Interest Rate
Sputnik International
MOSCOW (Sputnik) - Bitcoin fell lower than $18,000 on Thursday amid the US Federal Reserve System's announcement of interest rate hike. 15.12.2022, Sputnik International
2022-12-15T12:36+0000
2022-12-15T12:36+0000
2022-12-15T12:36+0000
economy
bitcoin
cryptocurrency
us federal reserve
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On Wednesday, the Federal Reserve announced a 50-basis point hike, setting the rate at the 15-year high of 4.4%, which is within its target range from 4.25-4.5%. As of 12:00 GMT, the largest cryptocurrency was trading at $17,720 on the Binance crypto currency exchange. On Wednesday, it surpassed the $18,000 ceiling for the first time since early October, stopping at around $18,300 on Binance. The US stock market has also gone in the red zone, with almost all major tech companies slowly sinking on the Nasdaq on Thursday. Media have pointed to the recent correlation between Bitcoin's value and trends on the stock exchange. According to CNBC, cryptoinvestors are also closely following the aftermath of the collapse of the FTX cryptocurrency exchange, which might be one of the reasons for their reluctance to buy Bitcoin right now.
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bitcoin drops, cryptocurrency, federal reserve
bitcoin drops, cryptocurrency, federal reserve
Bitcoin Drops Amid Fed's Decision to Increase Interest Rate
MOSCOW (Sputnik) - Bitcoin fell lower than $18,000 on Thursday amid the US Federal Reserve System's announcement of interest rate hike.
On Wednesday, the Federal Reserve announced a 50-basis point hike, setting the rate at the 15-year high of 4.4%, which is within its target range from 4.25-4.5%.
As of 12:00 GMT, the largest cryptocurrency was trading at $17,720 on the Binance crypto currency exchange. On Wednesday, it surpassed the $18,000 ceiling for the first time since early October, stopping at around $18,300 on Binance.
The US stock market has also gone in the red zone, with almost all major
tech companies slowly sinking on the Nasdaq on Thursday. Media have pointed to the recent correlation between Bitcoin's value and trends on the stock exchange.
According to CNBC, cryptoinvestors are also closely following the aftermath of the collapse of the FTX cryptocurrency exchange, which might be one of the reasons for their reluctance to buy Bitcoin right now.
