US Fed Meet News Live Updates: Fed Raises Rate By 25 bps, Crypto Market Up
US Fed Meet News: In the backdrop of an encouraging price recovery for cryptocurrencies in January, the Fed’s committee is set to announce its interest rate decision. The market is expecting a 25 bps rate hike in February, following a 50 bps rise in December 2022. The hike meant slowdown in pace of rate hike, bringing the funds rate at 4.25-4.5% range. As an immediate reaction, the crypto market responded negatively with all cryptocurrencies dropping in value.
This time around, if the Federal Open Market Committee (FOMC) raises rate in line with market expectation, odds are that the crypto prices would eventually go down after the subsequent Jerome Powell press conference. According to Bloomberg economists, Powell could be inclined to give out a hawkish statement about further hikes in March and April. This is considering the Fed’s larger goal of bringing down inflation to the 2% target.
- Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
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.
