Tags: Rate Hike

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Fed Raises Interest Rates by 25 Bps, Maintains Optionality on Further Hikes – Here is How Crypto Reacted

Bitcoin‘s future remains uncertain as investors brace for potentially volatile market movements ahead of the Federal Reserve‘s announcement.

Recent bank failures had market participants questioning if the U.S. central bank would follow through with its previous intention to further tighten monetary policy.

The two largest cryptocurrencies by market capitalization also recently appear to have decoupled from equity indexes.

The CPI data shows inflation remains problematic. Crypto investors are hoping the U.S. central bank breaks from its monetary hawkishness of the past year.

Investors found comfort in banking and finance regulators’ interventions on behalf of depositors to Silicon Valley and Signature banks and grew hopeful that the Federal Reserve would not boost interest rates at its next meeting.

Should we point fingers at Silicon Valley Bank, the Federal Reserve, the banking system, crypto or the depositors themselves?

The U.S. central bank earlier Wednesday lifted its benchmark interest rate 25 basis points.