The Federal Reserve raised interest rates by 25 basis points (bps) following the Feb. 1 meeting of The Federal Open Market Committee (FOMC).
This brings the Federal Funds Rate to 4.5-4.75%.
Bitcoin reacted with an immediate 1.2% swing to the upside, topping out at $23,200 on the 19:00 (UTC) 5-minute candle.
The post Bitcoin reaches $23,200 as Fed raises interest rates by 25 basis points appeared first on CryptoSlate.
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The Federal Reserve raised interest rates by 25 basis points (bps) in their February 1st Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.5-4.75%. In response, Bitcoin experienced an immediate 1.2% swing to the upside and hit a peak of $23,200 on the 5-minute candle of 19:00 UTC. This is the latest development in the ongoing relationship between Bitcoin and traditional financial markets.
