Minutes for the latest Fed meeting will be released soon. Unless U.S.-China equities spill over and Hong Kong’s market contagion spreads, which is unlikely, the Fed again will drive crypto prices; BTC, ETH rise. thesamreynolds and JPRubin23 write
Most major cryptos rose slightly a day before the U.S. central bank was scheduled to announce its decision on a possible interest rate hike, and despite Russia's continued attacks on Ukraine and a COVID-related lockdown in Shenzhen, a China tech hub.
"We expect that a lot of people are saying, 'maybe we should take a wait-and-see approach," Michael Safai, managing partner at quantitative trading firm Dexterity Capital, told CoinDesk TV's First Mover program. Russia continued to pound the Ukraine capital Kyiv and other major cities, which faced humanitarian crises the likes of which have not been seen in Europe for decades. On Tuesday, the U.K. removed Russia from its most favored trade status. Most favored trade status, a principle established by the World Trade Organization, guarantees equal tariff and regulatory treatment among members of the group. Russia now faces a 35% increase above the usual tariffs on goods.
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