Bitcoin (BTC) Plunges After Fed Raises Rate By 75 Basis Points: Live News Updates
Bitcoin FOMC Meeting November 2022 Live Updates: The Federal Reserve announced a rate raise by 75 basis points for the fourth consecutive meeting. Fed chair Jerome Powell indicated at slowing down of rate hike ‘as soon as next meeting’.
In the last one week, the cryptocurrency market has been on a bullish momentum in an otherwise bearish crypto cycle. Elon Musk‘s official taking over of social media platform Twitter led to huge rise in Dogecoin (DOGE) price. The top memecoin is up by nearly 100% compared to 7 days ago.
As of writing, BTC price stands at $20,431, almost flat at 0.30% rise in the last 24 hours, according to price tracking platform CoinMarketCap. The crypto market is looking at how Bitcoin price will react to the outcome of the FOMC meeting.
The Fed statement was released on Wednesday, followed by a press conference by Fed Chair Jerome Powell.
Bitcoin FOMC Meeting News Today Live Updates
Instant Currency Exchange at BestChange with Ease
- Compare Rates Across 1000+ Exchanges
- Access 250+ Cryptocurrencies & Pairs
- Save Time with Real-Time Price Tracking
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
