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
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