Cryptocurrencies fall as investors weigh the Fed's latest rate decision, bitcoin slides toward $25,000
Publishing timestamp: 2023-03-22 16:37:48
Summary
Cryptocurrencies fell after the Federal Reserve enacted a quarter percentage point interest rate increase and expressed caution about recent banking crisis. Bitcoin slid 4.8% to $26895.88 and Ether fell 4.1% to $1726.58. The Fed projections call for just one more hike this year. The comments by Fed Chair Jerome Powell in the press conference following the meeting were more hawkish than the market expected. Nevertheless, macroeconomic factors are still the biggest drivers of bitcoin's price.
Sentiment: MIXED
Keywords: markets, bitcoin/usd coin metrics, jerome powell, cryptocurrency, janet yellen, technology, business news, ethereum/usd coin metrics,
Source: https://www.cnbc.com/2023/03/22/bitcoin-rises-ahead-of-key-fed-decision.html