Bitcoin, Ethereum Technical Analysis: ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes – Market Updates Bitcoin News

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Bitcoin, Ethereum Technical Analysis: ETH Nears $1,700, Fed Prepared to Maintain Rate Hikes – Market Updates Bitcoin News
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ETH closes in on $1,700, as Federal Reserve hints at future rate hikes.

Speaking after Tuesday’s session, Powell hinted that the Fed could continue to hike rates, should the data show the need for action. Bitcoin was also boosted by the news, climbing back into the $23,000 region.) moved higher on Wednesday, following comments from Federal Reserve Chair Jerome Powell.

Speaking yesterday, Powell stated, “The reality is we’re going to react to the data. So if we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more than is priced in.”

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