{"id":503486,"date":"2022-09-24T08:14:44","date_gmt":"2022-09-24T08:14:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=503486"},"modified":"2022-09-24T15:36:27","modified_gmt":"2022-09-24T15:36:27","slug":"u-s-federal-reserve-set-to-hike-rates-above-400-bps-how-will-crypto-market-react","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/u-s-federal-reserve-set-to-hike-rates-above-400-bps-how-will-crypto-market-react\/","title":{"rendered":"U.S. Federal Reserve Set To Hike Rates Above 400 BPs – How Will Crypto Market React?"},"content":{"rendered":"
The United States Federal Reserve is tightening, and interest rates hike has heavily impacted on the crypto market. Earlier this month, Bloomberg Analyst Mike McGlone McGlone said Bitcoin would outperform traditional stocks as interest rates hike. However, to this point, Bitcoin does not seem to follow Bloomberg’s predicted trend.<\/p>\n
As a matter of fact, despite Bloomberg’s bullish standpoint, Bitcoin and other cryptocurrencies are still in a crash. For example, BTC and ETH dropped by 2% after the Fed\u2019s announcement and bounced back. BTC is currently trading below $19,000.<\/p>\n