{"id":13388,"date":"2022-07-28T00:03:08","date_gmt":"2022-07-28T00:03:08","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-spikes-as-fed-raises-rates-by-75-bps\/"},"modified":"2022-07-28T00:03:08","modified_gmt":"2022-07-28T00:03:08","slug":"bitcoin-price-spikes-as-fed-raises-rates-by-75-bps","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-spikes-as-fed-raises-rates-by-75-bps\/","title":{"rendered":"Bitcoin price spikes as Fed raises rates by 75 bps"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<p dir=\"ltr\">Bitcoin (BTC) rose sharply on Wednesday to break above $22,000 as risk appetite resurfaced following the US Federal Reserve\u2019s move to raise interest rates by 75 basis points.<\/p>\n<p dir=\"ltr\">BTC was trading around $22,575 at 15:20 pm ET on Wednesday, up nearly 10% in the past 24 hours.\u00a0<\/p>\n<p dir=\"ltr\">Of these gains, about 5% came on the back of Fed\u2019s rate hike. Ethereum (ETH) also rose sharply amid the positive market reaction, breaking to highs of $1,580 with over 15% gains in 24 hours.<\/p>\n<p dir=\"ltr\">Stocks also rallied after the rate hike and as Fed Chair Jerome Powell confirmed the central bank\u2019s desire to battle inflation. The S&amp;P 500 was up 2.43%, the Dow Jones Industrial Average had added more than 450 points while the Nasdaq was 3.9% higher.<\/p>\n<p dir=\"ltr\">Among crypto stocks, Coinbase (COIN), which tanked more than 21% on Tuesday to hit lows of $52.93, was up more than 11% at the time of writing. The Coinbase stock was trading around $54.84.<\/p>\n<h2>Fed hints at further rate hikes<\/h2>\n<p dir=\"ltr\">This is the second time the Fed has increased the interest rates by 0.75% and has the rate at levels monetary policy makers and economists see as neutral.<\/p>\n<p dir=\"ltr\">However, Powell noted in a speech after the Federal Open Markets Committee (FOMC) meeting that inflation remained well above 2%, hinting at further hikes.<\/p>\n<p dir=\"ltr\">\u201cToday, the FOMC raised its policy interest rate by three-quarters of a percentage point and anticipates that ongoing increases in the target range for the federal funds rate will be appropriate,\u201d Powell<a href=\"https:\/\/youtu.be\/yAOEdbY_5Zs\" rel=\"noopener noreferrer\" target=\"_blank\"> <u>said<\/u><\/a>.<\/p>\n<p dir=\"ltr\">Powell did note that it is possible policymakers would look to slow down on the rates in the near future.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-pumps-above-22-5k-as-fed-hikes-rates-by-0-75\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin (BTC) rose sharply on Wednesday to break above $22,000 as risk appetite resurfaced following the US Federal Reserve\u2019s move to raise interest rates by 75 basis points. BTC was trading around $22,575 at 15:20 pm ET on Wednesday, up nearly 10% in [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13388"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=13388"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/13388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/13389"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=13388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=13388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=13388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}