Bitcoin price spiked to an intraday high of $38,820 after Fed left interest rates unchanged
The Fed has signaled the first rate hike will take place in March. And this news sent Bitcoin price skyrocketing to an intraday high. At the time of writing, BTC is changing hands at $38,118.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price spikes to intraday high as Fed leaves rates unchanged
The Fed has indicated that it could raise rates in March but has no specific timeline for now. The central bank is widely expected to signal that it will raise interest rates.
The Fed’s hawkish shift has been seen as the most significant headwind for cryptocurrencies and equities. Earlier this week, Bitcoin dipped below $33,000 in analysts’ sell-off to an unfavorable macro environment.
Analysts believe that cryptocurrencies and other assets can benefit from the straightforward monetary policy conducted by the central bank.
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