The Fed raised interest rates by 50 basis points (bps) following the Dec. 14 Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.25-4.5%.
Bitcoin reacted with an immediate 3.2% swing to the downside, bottoming out at $17,762 on the 19:00 (UTC) 5-minute candle.
The post Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points appeared first on CryptoSlate.
Source: https://cryptoslate.com/bitcoin-sinks-3-2-as-fed-raises-interest-rates-by-50-basis-points/