ICYMI: Bitcoin price falls on news that Federal Reserve has raised key interest rate by 75 BPS
The US Federal Reserve has raised the US federal funds rate to 1.5%-to-1.75%, representing an increase of 75 basis points."In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook.
The price of bitcoin fluctuated downward on the news, having traded above $21,000 just prior to the announcement. As of press time, bitcoin is trading hands at about $20,375 on Coinbase, per TradingView.
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