Bitcoin reaches $23,700 as Fed raises interest rates by 25 basis points

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 at $23,700 on the 21:45 (UTC) 5-minute candle.

The post Bitcoin reaches $23,700 as Fed raises interest rates by 25 basis points appeared first on CryptoSlate.

Source: https://cryptoslate.com/bitcoin-reaches-23200-as-fed-raises-interest-rates-by-25-basis-points/