Bitcoin moved off its recent low of $20,000 on Thursday following a historic gain from the Federal Reserve. The Fed responded with a 0.75% rate hike as U.S. inflation rose to a 44-year high of 8.6% last month. ETHalso rose modestly today.
BTCrose modestly on Thursday as the market reacted to the latest rate hike from the Federal Reserve.
The Fed opted to raise rates by 75 basis points (bps) at its latest policy meeting, andBTC/USD rose to $22,868.92 ostensibly as a result.
Thursday’s move comes as bitcoin is off yesterday’s low of $20,391.30 and traders are trying to create a new support point.