Bitcoin saw a modest price spike after the biggest interest rate hike in 22 years
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.The U.S. Federal Reserve has raised interest rates by a half-percentage point for the first time since May 2000.
As reported by U.Today, the Fed hiked the benchmark short-term interest rate by 25 basis points in March, but consumer prices persistently kept creeping up despite the fact that supply shortages moderated.The central bank's hawkish U-turn has also taken some steam out of the cryptocurrency market. Bitcoin, Ethereum, and other leading cryptocurrencies have taken a beating this year together with stocks.
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