Bitcoin dumped below $40,000 and rose above that level almost immediately as the US Fed decided to raise interest rates by 25 basis points.
Bitcoin’s price went down and up by a few grand following the US Federal Reserve’s announcement about increasing interest rates. Avalanche has marked the most substantial price increase from the altcoins with a notable near 10% surge.Following several days of relatively calm behavior around the $39,000 level, bitcoin reminded of its volatility in the past 48 hours. As
yesterday, the asset skyrocketed by almost $3,000 to a daily high at over $41,500 before it dumped just as suddenly and quickly back to $39,000.. The cryptocurrency remained north of that level for most of the day, but then came the latest Federal Reserve meeting.to increase the interest rates by 25 basis points immediately, BTC went on the downhill and dropped by over $1,000 in minutes. Yet, the asset bounced off quite rapidly again and briefly exceeded $41,000.
As of now, bitcoin has lost some traction and stands just shy of that last price line, but it’s still up by 1% since yesterday, and its market cap is close to $800 billion.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
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