ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
What's Hot

Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens

March 20, 2023

Synthetix nets $20M from Web3 quant trading firm

March 20, 2023

MixMarvel Is to Co-Host a Web3 Reception in Hong Kong

March 20, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • CRO
  • ETH
  • BRC
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens

    March 20, 2023

    Synthetix nets $20M from Web3 quant trading firm

    March 20, 2023

    MixMarvel Is to Co-Host a Web3 Reception in Hong Kong

    March 20, 2023

    EU’s MiCA Crypto Law Debate Scheduled for April 18

    March 20, 2023

    Arthur Hayes Forecasts ‘Most Hated’ Bitcoin Rally Ever As Infinite Money Printing Ensues

    March 20, 2023

    Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

    March 20, 2023

    Taiwan watchdog FSC to assume authority on crypto regulation

    March 20, 2023

    Fed, central banks enhance ‘swap lines’ to combat banking crisis

    March 20, 2023

    Synthetix nets $20M from Web3 quant trading firm

    March 20, 2023

    These 5 cryptocurrencies may continue to surprise to the upside

    March 19, 2023

    Grayscale extends review of ETHPoW decision

    March 17, 2023

    Euler Finance hacked despite 10 audits in 2 years, says CEO

    March 17, 2023

    Top Ethereum Rival Could Be Gearing Up for Glorious Move, Says Investor Who Called 2022 Crypto Bottom

    March 20, 2023

    Ethereum (ETH) Creator Vitalik Buterin Outlines Favorite Crypto Security Strategy

    March 19, 2023

    Whales Quietly Boosting Ethereum Altcoin That Exploded 114% This Week: On-Chain Data

    March 19, 2023

    Silicon Valley Bank Implosion Whipped Up Frenzy of DeFi Transactions As Crypto Assets Rebounded: DappRadar

    March 18, 2023

    Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens

    March 20, 2023

    Synthetix nets $20M from Web3 quant trading firm

    March 20, 2023

    MixMarvel Is to Co-Host a Web3 Reception in Hong Kong

    March 20, 2023

    EU’s MiCA Crypto Law Debate Scheduled for April 18

    March 20, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    The Man Behind The Crypto Crackdown!! What's Coming?!

    March 19, 2023

    😱 Crypto BANNED in the US?! The SHOCKING Truth About Stable Coins! 🔥 | #StableCoins #shorts

    March 19, 2023

    Master Your Wealth With The Right Mindset

    March 19, 2023

    Bitcoin Price $1 MILLION by June 17th! Microsoft Buys Ethereum!

    March 18, 2023

    $200k Bitcoin SOON (Why BTC WILL SKYROCKET)

    March 18, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.003.67% 24H
    BITCOIN
    24H : 3.67%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.030% 24H
    ETHEREUM
    24H : 0.030%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.000.140% 24H
    TETHER
    24H : 0.140%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-0.13% 24H
    BNB
    24H : -0.13%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.090% 24H
    USD COIN
    24H : 0.090%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.11% 24H
    XRP
    24H : -3.11%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-0.20% 24H
    CARDANO
    24H : -0.20%
    Volume : $0.00
    Marketcap : $0.00
  • matic-networkPolygon(MATIC)
    $0.00-3.01% 24H
    POLYGON
    24H : -3.01%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.003.67% 24H
    BITCOIN
    24H : 3.67%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.030% 24H
    ETHEREUM
    24H : 0.030%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.000.140% 24H
    TETHER
    24H : 0.140%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-0.13% 24H
    BNB
    24H : -0.13%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.090% 24H
    USD COIN
    24H : 0.090%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.11% 24H
    XRP
    24H : -3.11%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-0.20% 24H
    CARDANO
    24H : -0.20%
    Volume : $0.00
    Marketcap : $0.00
  • matic-networkPolygon(MATIC)
    $0.00-3.01% 24H
    POLYGON
    24H : -3.01%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Bitcoin price climbs to $22.5K after Fed 75 basis point hike aims to cap runaway inflation
Bitcoin

Bitcoin price climbs to $22.5K after Fed 75 basis point hike aims to cap runaway inflation

Coin TelegraphBy Coin TelegraphJuly 5, 20221 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Global financial markets were squarely focused on the U.S. Federal Reserve and its decision to raise interest rates by 75 basis points on June 15, the largest increase in 28 years as the central bank fights to tamp down the highest inflation rates in over four decades. 

Data from Cointelegraph Markets Pro and TradingView shows that Bitcoin (BTC) and the wider cryptocurrency market fell under pressure in the early trading hours on June 15 as rumors of the possible collapse of Three Arrows Capital (3AC) spread across the ecosystem, which is still grappling with the ongoing Celsius debacle.

Daily cryptocurrency market performance. Source: Coin360

Following the announcement from Federal Reserve Chair Jerome Powell that there would be a 75 basis point hike, the price of Bitcoin briefly spiked to $22,520 before pulling back to $21,500.

BTC/USDT 4-hour chart. Source: TradingView

The altcoin market likewise saw a brief price pump as the dire predictions of a possible 100 basis point hike failed to materialize and the market got largely what it expected from June 15 Federal Open Market Committee (FOMC) meeting.

Traditional markets responded positively to the announcement with the S&P 500, Dow and NASDAQ all trading in the green for the day, but traders would be wise to see how markets behave at the daily close and tomorrow’s opening bell.

Related: Bitcoin bounces 8% from lows amid warning BTC price bottom ‘shouldn’t be like that’

Analysts digest the rate hike and its possible impact on crypto prices

Shortly after Powell announced the 75 basis point hike, projections on when the Fed would start to cut rates started rolling in with the dominant consensus being that they would begin in 2024.

BREAKING: The biggest rate increase since 1994 from the FED.

However, expectations from FED policymakers are that they’ll be starting to cut rates in 2024.

— Michaël van de Poppe (@CryptoMichNL) June 15, 2022

The main reason for the rise in interest rates has been soaring inflation, which came in at a year-over-year increase of 8.6% according to the latest Consumer Price Index (CPI) print, which was higher than the analysts had predicted.

Some analysts have begun to speculate that the reason for the highest rate hike in 28 years is part of an effort by the Federal Reserve to try and get ahead of the curve and establish enough leg room to be able to pause hikes in the future if economic conditions continue to worsen.

They seem to be coming around to what I thought they would do in January (even before Ukraine). Frontload hikes which gives them cover to hit the pause button later while things may still be a bit too hot. I would expect to hear hawkish rhetoric today (gotta hike anyway).

— The Long View ✪ (@HayekAndKeynes) June 15, 2022

Overall, the rate hike, which was largely expected, appears to have been priced into the crypto market because prices remained relatively flat following the announcement and currently, more crypto-specific developments are dominating the headlines in the sector.

The overall cryptocurrency market cap now stands at $931 billion and Bitcoin’s dominance rate is 44.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Arthur Hayes Forecasts ‘Most Hated’ Bitcoin Rally Ever As Infinite Money Printing Ensues

March 20, 2023

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

March 20, 2023

Taiwan watchdog FSC to assume authority on crypto regulation

March 20, 2023

Fed, central banks enhance ‘swap lines’ to combat banking crisis

March 20, 2023

Trader Who Nailed Bitcoin 2022 Bottom Says BTC One Resistance Away From New All-Time High – Here’s His Outlook

March 20, 2023

Bitcoin hits $28k as uncertainty surrounds banks

March 19, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens

March 20, 2023

Synthetix nets $20M from Web3 quant trading firm

March 20, 2023

MixMarvel Is to Co-Host a Web3 Reception in Hong Kong

March 20, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.