Federal Reserve’s decision to raise interest rates by 0.25 percentage point has brought the benchmark rate to 3.25%. What can be the implications for $BTC prices?
Bitcoin, renowned for its inherent volatility, was quick to respond to the Fed Interest Rate Hike announcement. In the hours following the rate hike, the cryptocurrency’s price exhibited sharp fluctuations, reflecting the market’s apprehension.
As the dust settles after the initial market reaction to Fed Interest Rate Hike, traders and analysts are evaluating other factors that may influence Bitcoin’s price in the coming weeks and months. Also, Geopolitical events, regulatory developments, and adoption by major institutions remain key drivers of cryptocurrency valuations.