Crypto markets respond positively to softer US rate hike announcement

Published by
City AM

By Darren Parkin The Federal Reserve Bank of the US announced a 0.25% rate hike yesterday, the slightest adjustment since starting its aggressive inflation targeting in March last year. Investors and analysts are seeing it as a signal that the Fed may finally be getting a handle on inflation, news to which the markets have responded positively. Bitcoin is up by 3.6% since yesterday, trading for $23,790 this morning, while Ethereum has jumped 6% over the same period to $1,670 – a momentum shift for the original smart contracts crypto, which has lagging Bitcoin since the rally started a month ag…

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