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Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points


The Fed raised interest rates by 50 basis points (bps) following the Dec. 14 Federal Open Market Committee (FOMC) meeting. This brings the Federal Funds Rate to 4.25-4.5%.

Bitcoin reacted with an immediate 3.2% swing to the downside, bottoming out at $17,762 on the 19:00 (UTC) 5-minute candle.

Source: BTCUSDT on TradingView.com

The post Bitcoin sinks 3.2% as Fed raises interest rates by 50 basis points appeared first on CryptoSlate.





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