Bitcoin, ether build on recent gains as investors await Fed rate hike decision
Publishing timestamp: 2023-03-21 16:01:51
Summary
Cryptocurrency prices were slightly higher as investors awaited the conclusion of the Federal Reserve's two-day policy meeting. Bitcoin rose over 1.3% to trade above $28,000, while Ether advanced 2.4% to $1,799. Investors are anticipating a 25 basis point increase in interest rates by the Fed, with an 83% chance of this happening according to CME Group's FedWatch tool. Some investors attribute the recent crypto rally to dwindling confidence in centralized institutions, while others believe inflation and Fed policy remain the biggest catalysts for bitcoin's price.
Sentiment: NEUTRAL
Keywords: ethereum/usd coin metrics, cryptocurrency, bitcoin/usd coin metrics, technology, markets, bitcoin, investment strategy, business news,