The markets were nervous ahead of the Fed's interest rate announcement 😬 But after a half-a-percentage-point hike was unveiled, Bitcoin rose by 5% 📈 Why? 🧐
This is likely linked to Fed Chairman Jerome Powell revealing that a future rate hike of 0.75% is "not something that the committee is actively considering" — meaning that, although rates will continue to rise, the pace will be gradual rather than sharp and sudden.
The Fed's decision will likely prompt other central banks to increase interest rates also — and Wednesday's strong showing on Wall Street will likely be replicated during Thursday's trading in Europe and Asia. But for now, Bitcoin's next challenge is meaningfully cracking through $40,000 — a level that's proven elusive in recent weeks.