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Bitcoin and Crypto Market Edge Up 4% Following Fed’s 0.25% Interest Rate Hike

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The Federal Reserve’s announcement seemed to spur the crypto markets higher even though almost everyone expected the Fed hike would happen.


Key points

  • The Federal Reserve announced that it will raise interest rates by 0.25% at the end of its two-day policy meeting, while the overall crypto sector climbed about 4% to a market cap of more than $1.83 trillion at press time.
  • The Fed’s rate increase is intended to slow U.S. inflation, which the latest government data reported at 7.9% for February, marking the highest level in 40 years and the 10th straight month it was higher than 5%.
  • Wednesday’s rate hike marks the central bank’s first interest rate increase since 2018.

Bitcoin and the cryptocurrency market in general climbed about 4% following Wednesday’s announcement from the U.S….

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