Crypto assets have been weighed down as the Fed and other central banks raise interest rates to fight red-hot inflation
Bitcoin rose ahead of a highly anticipated interest-rate decision by the Federal Reserve on Wednesday, helping to push it towards the higher end of the range it’s been trading in for much of the year.
Crypto-assets, just like other riskier areas of the market, have all been weighed down as the Fed and other global central banks raise interest rates to fight red-hot inflation. Market-watchers were bracing for the biggest Fed rate hike since 2000 on Wednesday and were awaiting more clues on how aggressively the central bank will try to tackle inflation.
“Right now, the market is basically stuck in a range for the most part,” said Dan Gunsberg, co-founder of Hxro Network.
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